LG Energy Solution and lithium exploration company Green Technology Metals (GT1) have signed an AUD20-million equity subscription agreement and an offtake term sheet, giving LG access to future production from GT1’s flagship Seymour Project in North America. According to the offtake term sheet, GT1 will sell LG Energy Solution 25% of its spodumene concentrate production… Read more »
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Hyundai and LG Energy Solution partner on US battery manufacturing facility
Hyundai Motor Group and South Korea-based battery manufacturer LGES have signed an MOU to produce EV batteries in the US at a location in Bryan County, Georgia, adjacent to Hyundai’s Metaplant America currently under construction. Hyundai and LGES will each hold a 50% stake in the JV, which will involve an investment of more than… Read more »
LG Energy Solution to build a $5.5-billion battery manufacturing complex in Arizona
South Korean battery manufacturer LG Energy Solution will invest approximately $5.5 billion to construct a battery manufacturing complex in Queen Creek, Arizona. The complex will consist of two manufacturing facilities—one for cylindrical batteries for EVs and another for lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). The company plans to invest $3.2… 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 »
Honda and LG Energy Solution to build battery factory in Ohio
In February, Honda and South Korea-based battery maker LG Energy Solution held a groundbreaking ceremony for a new joint-venture EV battery plant near Jeffersonville, Ohio. The companies say they have committed $3.5 billion to the project, and overall investment is projected to reach $4.4 billion. Plans call for the facility’s completion by the end of… Read more »
LG Innotek introduces new 800 V wireless BMS
LG Innotek has introduced an 800-volt wireless battery management system (BMS) that it says can greatly increase battery performance. LG’s new wireless BMS has a communication module that integrates an RF communication chip and antenna into one unit. LG says that removing hundreds of BMS wires and connectors from a battery pack can allow vehicle… 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 Energy Solution and Syrah Resources collaborate on testing natural graphite
LG Energy Solution (LGES) will work with Syrah Resources on the testing and verification of natural graphite anode material. Syrah’s facility in Vidalia, Louisiana, which is slated to begin production in 2023, will supply the natural graphite. “Our partnership with Syrah demonstrates our devotion to diversifying the critical minerals portfolio by directly procuring from local… Read more »