LGES said the two companies agreed to build up the partnership for the long haul, reports Yonhap news agency. SEOUL : LG Energy Solution Ltd. (LGES) said 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. […]
LG Energy Solution, GM to build $2.1 billion battery factory in U.S. – EQ Mag Pro
SEOUL : South Korea’s LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors (GM.N) to build an electric vehicle (EV) battery factory in the United States. United parent company LG Chem (051910.KS) said on Tuesday. LGES and GM are expected to fund the project equally through Ultium Cells, their U.S.-based battery joint […]
S.Korea’s LG Energy Solution expects its global market share to overtake rival CATL’s – EQ Mag Pro
SEOUL : Days before pricing its $10.7 billion IPO, South Korean battery maker LG Energy Solution (LGES) forecast its market share would overtake main rival CATL thanks to its wider range of customers and said it was aiming for a double-digit operating margin. LGES Chief Executive Officer Kwon Young Soo told reporters that he expected […]
LG Energy Solution opens books for South Korea’s largest IPO at up to $10.8 bln – EQ Mag Pro
HONG KONG : Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to […]
Battery maker LG Energy Solution gets preliminary approval for IPO – EQ Mag Pro
A supplier to Tesla Inc, General Motor Co and Hyundai Motor Co, among others, LGES filed for a review of its IPO plans in June…Read More…
LG Energy Solution Begins Mass Production of Pouch NCMA Cells for GM’s Electric Truck
Korea IT News reported that LG Energy Solution will commence the mass production of EV batteries for GM’s first heavy electric truck this October. The initial shipments of these batteries will come from LG’s battery plant in South Korea. Next year, the manufacturing of LG’s batteries for GM’s EVs will be handled by Ultium Cells, […]
South Korea Captures 31 Percent of Global EV Battery Market in Q1
Three South Korean electric vehicle (EV) battery makers accounted for 31 percent of the global market in the first quarter, but their share has slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said on Monday. Seoul: Three South Korean electric vehicle (EV) battery makers accounted for […]
LG Energy Solution Commits To 100% Renewable Electricity
South Korean battery manufacturer LG Energy Solution has announced it is among the newest members of the RE100. RE100 is an international campaign that was started The Climate Group in partnership with CDP back in 2014 to encourage big companies to commit to 100% renewables-based electricity. LG Energy Solution says its manufacturing facilities in Poland […]
LG Energy, General Motors to build $2.3 billion EV battery factory in US
Ultium Cells, the joint venture between LG and GM, will build a second US factory with an annual capacity of 35 gigawatt-hours, similar to the first one under construction in Ohio. Seoul: South Korean battery maker LG Energy Solution Ltd said on Saturday its joint venture with American automaker General Motors Corp. will build a […]
Electric vehicle battery firms settle trade spat
LG Energy Solution and SK Innovation reached the settlement, ending the need for President Joe Biden to intervene in the dispute. The US International Trade Commission decided in February that SK stole 22 trade secrets from LG Energy Two big South Korean electric vehicle battery makers have settled a long-running trade dispute that will allow […]