Chemicals company LG Chem and technology manufacturer LX Hausys in South Korea have developed a material that can withstand a 1,500° C flame for over 20 minutes, delaying battery thermal runaway. The Special Flame-Retardant Continuous Fiber Thermoplastic (CFT) can withstand strong flames and high pressure 14 times longer than other thermoplastics, according to the company…. Read more »
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LG Chem to build LFP cathode plant in Morocco
South Korea-based chemical company LG Chem and China’s Huayou Group have partnered to build a lithium-iron-phosphate (LFP) cathode materials plant. LG Chem is working to vertically integrate its cathode supply chain. The LG Chem-Huayou Group partnership will develop four plants: an LFP cathode material facility; a lithium conversion plant, also in Morocco; a high-pressure acid… Read more »
LG Chem targets sixfold sales growth in battery materials by 2030
LG Chem has announced a new strategy to become a top global battery materials company. CEO Shin Hak-cheol said at a recent battery conference in Seoul that LG Chem aims to grow its annual battery material sales sixfold, to KRW 30 trillion ($25.5 billion) by 2030. The expansion of the company’s battery business is part… Read more »
Piedmont Lithium and partner Sayona to provide lithium to LG Chem and Tesla from Quebec mines
Lithium producers are hustling to establish production in North America, and that’s a positive thing. However, it’s not going to happen at Silicon Valley speed. The mining industry has its own complex product cycles, and its own terminology, complete with plenty of acronyms. Piedmont Lithium’s joint venture partner, Sayona Mining, has released a definitive feasibility… Read more »
LG Chem invests $75 million in Piedmont Lithium
Battery manufacturer LG Chem will make a $75-million equity investment in Piedmont Lithium. This will result in LG Chem holding approximately 5.7% of Piedmont common shares. LG will also commit to the offtake of 200,000 metric tons of spodumene concentrate (SC6) from Piedmont’s jointly-owned North American Lithium over a four-year term. Piedmont has agreed to… Read more »
LG Chem to build major cathode plant in Tennessee
LG Chem has signed a memorandum of understanding to establish a new cathode manufacturing facility in Clarksville, Tennessee. Manufacturing plants for batteries and other EV components are popping up all over the country these days, and the announcements invariably mention President Biden’s Inflation Reduction Act, which offers incentives for companies to establish supply chains here… Read more »
LG Chem and KEMCO to produce battery precursor materials in South Korea
LG Chem has formed a joint venture with battery materials manufacturer Korea Energy Materials (KEMCO) to invest more than 200 billion KRW ($160 million) in the construction of a battery precursor materials production line in the Onsan Industrial Complex in Ulsan. Construction of the line is set to begin this July. The metals provided by… Read more »
Toray and LG Chem create battery separator joint venture
Toray Industries has concluded a joint venture agreement with LG Chem under which LG Chem will invest $375 million in Toray Industries Hungary (THU), establishing LG Toray Hungary Battery Separator (LTHS), in which Toray and LG Chem will each hold a 50% interest. The new joint venture will use existing THU facilities to manufacture battery… Read more »
LG Chem to invest $5.3 billion in battery materials by 2025, aims to rule anode market
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 launches carbon nanotube plant in Korea
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 »