SEOUL : South Korea’s LG Energy Solution said on Wednesday quarterly profit more than doubled, as the battery maker benefited from subsidies from the U.S. Inflation Reduction Act and solid U.S. sales of electric vehicles. Its shares jumped as its earnings met forecasts. The company, which supplies Tesla Inc, General Motors Co and others, said […]
LG Energy Solution to Invest US$3.1 Billion in Expanding Battery Capacity in South Korea – EQ Mag
The demand for batteries is bound to surge under the continuously robust development of EVs in the future. South Korean battery company LG Energy Solution (LGES) announced to invest KRW 4 trillion (approx. US$3.1 billion) between 2022 and 2026 in expanding its production of EV cylindrical batteries in the country. LGES states that new investment […]
LG Energy Solution signs deal to buy lithium battery materials from U.S. firm
SEOUL : South Korean battery maker LG Energy Solution announced Friday it has signed a multi-year agreement with U.S. mineral provider Compass Minerals. Under the contract, the company would receive 40% of the Compass Minerals’ annual production of 11,000 metric tons of battery-grade lithium carbonate from 2025 to 2030. LG Energy Solution said the price […]
LG Energy Solution Brings in Start-ups to Foster Next Generation Battery Technology – EQ Mag Pro
LG Energy Solution to host ‘LGES Battery Challenge 2022’ seeking start-ups with battery related technology to fund cutting-edge research in battery sector. Through international competition, LGES aims to maintain leadership in battery industry SEOUL, South Korea : LG Energy Solution (LGES; 373220) continues its efforts to foster next generation battery technologies by inviting start-ups in […]
South Korea’s LG Energy Solution to supply batteries to India’s Mahindra – EQ Mag Pro
SEOUL : South Korean battery maker LG Energy Solution is set to supply batteries to Mahindra & Mahindra’s first electric sports utility vehicle (SUV), a source familiar with the matter said on Monday. The batteries will power the Indian automaker’s XUV400 SUVs, likely scheduled for delivery between the fourth quarter and January, the source said. […]
LG Energy Solution to invest $568 million in South Korean factories – EQ Mag Pro
SEOUL : LG Energy Solution (373220.KS) said on Monday it will invest 730 billion won ($567.76 million) to expand its production capacity at its Ochang production site in South Korea. The South Korean battery maker, which counts Telsa Inc (TSLA.O), General Motors Co (GM.N) and Volkswagen AG (VOWG_p.DE) among others as customers, said it planned […]
Stellantis, LG Energy Solution to invest $4.1B in Canada battery plant – EQ Mag Pro
SEOUL : Stellantis and LG Energy Solution announced plans to more than $4.1 billion to build a battery plant in Canada. The companies plan to build the factory in Ontario, where they will produce lithium-ion battery cells and modules for Stellantis’ electric vehicles, which will be shipped to North American markets. They said Wednesday the […]
South Korea’s LG Energy Solution IPO attracts around $80bn in bids – EQ Mag Pro
South Korean battery maker LG Energy Solution’s (LGES) $10.7 billion initial public offering (IPO) has received bids worth around $80 billion from institutional investors, two sources with direct knowledge of the deal said. The book for the offering will close on Wednesday with deal pricing set for Friday. LGES did not immediately respond to a […]
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 […]
RWE Inks Deal to Procure Integrated Battery Energy Storage Systems From LG Energy Solution For Projects Co-Located With U.S. Solar Facilities – EQ Mag Pro
RWE Renewables, one of the world’s leading renewables companies, has signed contracts with LG Energy Solution to provide an integrated battery energy storage system (BESS) for two of RWE’s upcoming projects with co-located solar PV facilities in the U.S. “We’re delighted to join forces with LG Energy Solution to secure equipment helping us realize two […]
