SEOUL, Dec. 14 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Tuesday it has signed a deal with Siemens Korea to work together to turn its battery plants into smart factories to upgrade the manufacturing process. Under the memorandum of understanding, LG Energy Solution will adopt the German industrial solutions provider’s [...]
SEOUL, Dec. 7 (Korea Bizwire) — Battery maker LG Energy Solution Ltd. is seeking to raise as much as 12.75 trillion won (US$10.8 billion) in what would be South Korea’s largest initial public offering (IPO), planned for early next year, the company said Tuesday. The company said in a regulatory filing it is offering 34 [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. has received preliminary approval for listing on the country’s main stock market, the main bourse operator said Tuesday, taking one step closer to its much-anticipated market debut. The approval by the Korea Exchange (KRX), the country’s main bourse operator, came as [...]
SEOUL, Nov. 5 (Korea Bizwire) — LG Energy Solution Ltd., a leading South Korean battery maker, has signed a battery supply contract with Nikola Corp., a U.S. electric vehicle startup, according to industry sources Friday. The Arizona-based company said in its third-quarter earnings report it entered into a long term battery supply agreement with LG [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. said Monday it has tapped Kwon Young-soo, vice chairman of LG Corp. as its new CEO, a move largely seen as a replacement in the wake of its battery recalls in General Motors Co.’s Bolt electric vehicles (EV). LG Energy said it named Kwon as [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Monday its third-quarter net profit rose 19.2 percent from a year earlier, backed by solid petrochemical sales despite the one-off factor from its electric battery (EV) recall costs. The net income came to 679.9 billion won (US$581.9 million) in the [...]
SEOUL, Oct. 18 (Korea Bizwire) — LG Energy Solution Ltd., a South Korean battery maker, said Monday it has signed a memorandum of understanding (MOU) with multinational carmaker Stellantis N.V. to set up a joint venture to produce electric vehicle batteries. Under the partnership, the two companies will establish a new battery manufacturing plant in [...]
SEOUL, Sept. 17 (Korea Bizwire) – South Korean battery maker LG Energy Solution Ltd. said Friday it has signed a 350 billion won (US$297.5 million) deal to acquire a 4.8 percent stake in China’s Greatpower Nickel & Cobalt Materials Co. for a stable supply of battery materials. The wholly owned subsidiary of LG Chem Ltd. [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean automaker Hyundai Motor Group and battery maker LG Energy Solution Ltd. said Wednesday they have begun construction of a new electric vehicle battery plant in Indonesia. A joint venture between Hyundai Motor and LG Energy broke ground for the $1.1 billion lithium-ion battery cell plant in an [...]
SEOUL, Aug. 16 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s leading battery company, said Monday it has signed a six-year deal with Australian Mines Ltd. for a stable supply of key battery materials. In the deal that will begin at the end of 2024, LG Energy Solution will receive 71,000 tons of nickel [...]