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 »
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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 »
LG Chem deployed more battery capacity than Panasonic in Q1 2020
In the first quarter of 2020, EV battery suppliers deployed 20.5 GWh of capacity globally, down from 26.5 GWh in the fourth quarter, and 20.9 GWh during the first quarter of 2019, according to data from Adamas Intelligence’s EV Battery Capacity and Battery Metals Tracker. After losing the top spot to LG Chem in January… Read more »
LG Chem increases carbon nanotube capacity by 1,200 tons
LG Chem recently announced that it will invest 65 billion South Korean won ($54 million) by Q1 of next year to add 1,200 tons of carbon nanotube (CNT) production capacity to its Yeosu, South Korea plant. Once the expansion is made, the company will have a total production capacity of 1,700 tons. LG Chem says… Read more »
GM and LG Chem to build battery cell plant in Lordstown, Ohio
General Motors and LG Chem have announced plans to establish a battery cell assembly plant on a greenfield site in the Lordstown area of Northeast Ohio. The companies will invest up to $2.3 billion in the facility through a new joint venture. The new factory will eventually provide batteries for GM’s electric pickup truck, expected… Read more »
LG Chem hosts $1.9-million battery innovation competition
LG Chem has announced a $1.9-million startup contest it calls The Battery Challenge. The competition is intended as a springboard for new concepts and partnerships in four categories: Battery Material, Battery Management and Control, Design, Manufacturing and Processing and Recycle and Regeneration. Applications are being accepted until November 2. Teams must submit business plans and pitches… Read more »