SEOUL, Jan. 10 (Korea Bizwire) — LG Energy Solution Co., South Korea’s leading electric vehicle (EV) battery maker, said Tuesday it is “in talks” with Ford Motor Co. to build a battery plant in Turkey. The negotiation came as its local EV battery firm, SK On, said it is considering withdrawing a memorandum of understanding [...]
SEOUL, Jan. 9 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), a South Korean major secondary battery maker, on Monday reported a weaker-than-expected operating profit for the fourth quarter of last year, though its 2022 income surpassed the 1 trillion won (US$801.92 million) mark for the first time. Operating profit for the October-December period jumped [...]
SEOUL, Dec. 19 (Korea Bizwire) — LG Energy Solution Ltd. said Monday it will spend 4 trillion won (US$3.07 billion) over the next five years to expand production and other facilities at its main domestic battery manufacturing complex in the country’s central region. The investment in the Ochang plant, located in Cheongju, North Chungcheong Province, [...]
SEOUL, Dec. 13 (Korea Bizwire) — LG Energy Solution Ltd. said Tuesday its joint venture with U.S. General Motors Co. has secured US$2.5 billion through a loan program approved by the U.S. government, funding that will help finance the construction of three electric vehicle battery plants in America. The U.S. Department of Energy (DOE) finalized [...]
SEOUL, Dec. 5 (Korea Bizwire) — POSCO Chemical Co. said Monday it has clinched a long-term deal to supply a key battery material to the U.S.-based joint venture between South Korea’s LG Energy Solution Ltd. and General Motors Co. POSCO Chemical will supply US$688.6 million worth of artificial graphite, a material used as anodes in [...]
SEOUL, Dec. 3 (Korea Bizwire) — LG Energy Solution Ltd.’s joint venture with U.S. General Motors Co. will invest an additional US$275 million for their electric vehicle battery plant under construction in the U.S. state of Tennessee. The additional investment by Ultium Cells LLC will help expand the facility’s output by more than 40 percent, [...]
SEOUL, Nov. 11 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Friday it has signed a binding agreement with a U.S. minerals provider for a long-term supply of a key lithium product used in electric vehicle (EV) lithium-ion batteries. The offtake agreement with Compass Minerals Inc. is for 40 percent of [...]
SEOUL, Oct. 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), a major secondary battery maker, said Wednesday it shifted to the black in the third quarter from a year earlier on the back of robust demand in electric vehicle (EV) batteries and a weaker Korean won currency. LGES said it will continue its focus [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding supply agreement with an Australian partner for a key mineral used in lithium-ion batteries. Under the memorandum of understanding with Syrah Resources Ltd., the Australian company will provide 2,000 tons of natural graphite [...]
SEOUL, Oct. 7 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s top battery maker, said Friday it racked up a turnaround in the third-quarter of the year from a year earlier on the back of the weakness of the Korean currency against the U.S. dollar and robust sales. Its operating profit reached 522 billion [...]