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 [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it has set up two independent in-house companies to accelerate battery swap and energy management services. It has launched KooRoo to take the lead in battery-as-a-service (BaaS), primarily focusing on the development of electric vehicle battery packs fit for replacement instead of charging, [...]
SEOUL, Sept. 23 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed supply agreements with three Canadian mineral companies to secure key raw materials used in lithium-ion batteries for electric vehicles. Under the arrangement with Electra Battery Materials Corp., the Toronto-based battery materials refiner will supply 7,000 tons of cobalt sulfate [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Monday it is joining hands with Japan’s Honda Motor Co. to build an electric vehicle battery plant in the United States in the latest move to increase its production capacity amid growing demand for zero-emission vehicles. The two companies [...]
SEOUL, Aug. 22 (Korea Bizwire) — Hyundai Motor Group and LG Energy Solution (LGES) Ltd. have secured US$710 million in loans and guarantees for their joint project to build a battery cell plant in Indonesia, the companies said Monday. Hyundai and LG will receive the funds from five different international financial firms with a 10-year [...]