SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. said Friday it has signed a long-term agreement with Chile’s SQM S.A. for the supply of lithium, a key component in electric vehicle (EV) batteries, in the latest move to further bolster the sourcing of raw materials. Under the agreement, SQM will supply 100,000 tons [...]
SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]
SEOUL, June 7 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it has clinched an agreement with an Australian battery materials company to develop artificial graphite, a key component for secondary batteries, accelerating efforts to bolster the sourcing of core battery materials. The joint development agreement was signed with Novonix Ltd., a Brisbane-based tech [...]
SEOUL, May 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Under the agreement signed with Green Technology Metals Ltd., LGES will acquire an approximately [...]
SEOUL, May 16 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday the construction of an electric vehicle (EV) battery plant in Canada with Stellantis N.V. has been halted, amid apparent haggling between the Canadian federal and provincial governments over who should pay more incentives. The announcement confirms earlier reports by foreign media outlets [...]
SEOUL, April 26 (Korea Bizwire) — Major South Korean battery components maker POSCO Future M Co. said Wednesday it has won a 30.3 trillion-won (US$22.6 billion) order to supply cathodes for LG Energy Solution Ltd., the country’s top battery maker. The deal calls for POSCO Future M to provide LG Energy Solution with high-nickel cathodes [...]
SEOUL, April 26 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday its first-quarter net profit more than doubled from a year earlier, in line with the earlier earnings forecast, on strong electric vehicles (EV) demand in North America and benefits from a new U.S. law on EV subsidies. Net profit for the three months [...]
SEOUL, April 25 (Korea Bizwire) — LG Energy Solution Ltd. said Tuesday it is investing 600 billion won (US$450 million) to build a “mother” production line in its main battery manufacturing complex in the country’s south, as it ramps up production capabilities to meet surging global demand. The mother production line will serve as a [...]
SEOUL, April 10 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s top battery maker, said Sunday that its leadership team had embarked on a trip to the U.S. with the aim of recruiting exceptionally skilled professionals from around the world. The company on Saturday (local time) held its Battery Tech Conference (BTC), a [...]
SEOUL, April 7 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. have announced their preliminary first-quarter results, and the outcome is a mixed bag. Samsung Electronics suffered a record earnings shock with its operating profit plummeting to a historic low, not only in comparison to LG Electronics but also to LG Energy Solution [...]