SEOUL, July 23 (Korea Bizwire) – LG Energy Solutions Ltd. (LGES) and Samsung SDI Co., South Korea’s two leading battery makers, said Tuesday they will diversify their product lineups to better compete with global rivals, particularly from China. LGES and Samsung SDI have focused on high-end lithium ion battery products, but they also need to [...]
SEOUL, June 28 (Korea Bizwire) – LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday it has suspended the construction of a battery production line for energy storage systems (ESS) in its Arizona plant. In April, LGES began the construction of the US$5.5 billion battery plant to produce 46-Series cylindrical batteries for [...]
SEOUL, Feb. 22 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s top car battery maker, said Thursday it has signed a long-term cathode supply deal with a Chinese company to expand its lithium iron phosphate (LFP) battery business. The deal calls for the Changzhou Liyuan New Energy Technology Co. to supply LGES with [...]
SEOUL, July 27 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its second-quarter operating profit more than doubled from a year earlier, driven by the continued strong electric vehicle (EV) demand. Operating income reached 460.6 billion won (US$361.5 million) in the April-June period, compared with 195.6 billion won the previous year, the company [...]
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, July 7 (Korea Bizwire) — The joint battery venture between LG Energy Solution Ltd. (LGES) and Stellantis N.V. will receive up to C$15 billion (US$11.2 billion) in incentives for their electric vehicle battery plant under construction in Ontario, Canadian government officials have said. The announcement on Thursday (local time) came a day after LGES [...]
SEOUL, July 6 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its joint venture with Stellantis N.V. has reached an agreement with the Canadian governments on the terms of subsidies for the construction of its electric vehicle (EV) battery plant in Ontario. The binding agreement puts the construction of the battery module manufacturing [...]
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 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 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 [...]