LG Energy Solution, one of Tesla’s battery suppliers, has entered into “a binding long form offtake agreement” with Australian Mines Ltd. for nickel and cobalt, which will be supplied in the form of mixed hydroxide precipitate (MPH) from the Sconi Project in North Queensland. Under the agreement, LG will have access to 71,000 tons of… Read more »
Commercial EV innovator Proterra (NASDAQ: PTRA) has formed a new agreement with LG Energy Solution to provide a long-term supply of cylindrical battery cells, to be manufactured at a new LG Energy Solution plant in the US. LG will deliver cells to Proterra’s factories for the manufacture of the company’s commercial EV battery systems. Proterra… Read more »
LG Electronics and Magna International have established a joint venture to manufacture e-motors, inverters and on-board chargers. The new company, LG Magna e-Powertrain, will be headquartered in Incheon, South Korea, and is expected to have more than 1,000 employees in the US, South Korea and China. Powertrain development will be based on Magna’s electric powertrain… Read more »
Hyundai Motor Group and LG Energy Solution have announced a Memorandum of Understanding with the Government of Indonesia to manufacture battery cells for EVs. Hyundai and LG will invest a total of $1.1 billion to build a jointly-owned battery cell plant in Karawang, Indonesia. Plant construction is scheduled to begin in the fourth quarter of… Read more »
LG Chem plans to invest 6 trillion South Korean won ($5.3 billion) in battery materials by 2025, including efforts in anode materials, separation membranes, cathode binders, radiant adhesives and carbon nanotubes. LG Chem’s goal is to grow into the world’s largest comprehensive battery materials company, and to become the world’s number-one supplier of anodes. A… Read more »
LG Chem has launched what it says is the largest carbon nanotube (CNT) plant in Korea. The company is targeting the growing market for CNT, often used as a cathode material for EV batteries. CNT has the same level of electrical and thermal conductivity as copper and diamond, and 100 times the strength of steel. … Read more »
Ultium Cells, a joint venture of LG Energy Solution and General Motors, have announced plans to build a second US battery cell manufacturing plant, in Spring Hill, Tennessee. The companies will invest some $2.3 billion in the new facility, which will supply battery cells to GM’s Spring Hill assembly plant. Construction on the 2.8 million-square-foot… Read more »
LG Energy has announced that by the end of 2025, it will invest more than $4.5 billion in its US-based business to increase its battery production capacity by 70 GWh. LG and GM are currently discussing plans to build a second joint venture plant in the US, which is expected to have a production capacity… Read more »
If GM is going to electrify most of its lineup by 2035, it’s going to need a lot more batteries. Sending out press releases is fast and free, but building supply chains takes years and billions, so one indication of whether the automaker’s announced deadline is a serious objective or a mere aspiration will be… Read more »
Tesla has recently introduced several battery innovations, including the new tabless 4680 cell, which it is believed to be producing in small quantities on a pilot line at its Fremont plant. However, the California carmaker has no intention of trying to produce all the cells it needs on its own. “The reason Tesla is doing… Read more »