LG Magna e-Powertrain, the joint venture (JV) between LG Electronics and Magna, is opening a new facility in Miskolc, Hungary. The 284,000-square-foot plant will be in Miskolc’s industrial sector, which has well-developed infrastructure and is close to OEM customers and Magna operations. Scheduled for completion in 2025, the new facility will start production with e-motors… Read more »
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LG Energy Solution will invest $3 billion in US plant to supply Toyota with EV batteries
Another sign that the sleeping Japanese giant is starting to stir: Toyota has signed a supply agreement with Korean battery-maker LG Energy Solution for lithium-ion batteries that Toyota will use in its US-built EVs starting in 2025. LGES will invest $3 billion in its Holland, Michigan battery facility for dedicated production lines to supply a… Read more »
Hyundai and LG Energy Solution invest additional $2 billion in Georgia battery plant
Hyundai and South Korean-headquartered battery maker LG Energy Solution (LGES) have announced a $2-billion expansion of their battery cell manufacturing joint venture at Hyundai’s EV Metaplant in Bryan County, Georgia, bringing the total investment value of the JV to $4.3 billion. At full operational capacity, the 30 GWh facility is expected to support annual production… Read more »
General Motors acquires battery software startup ALGOLiON
GM has bought virtually all the assets of Israel-based battery software firm ALGOLiON for an undisclosed price. GM’s new Technology Acceleration and Commercialization (TAC) group led the purchase. ALGOLiON has developed software that analyzes data streams from EV battery management systems to identify cell performance anomalies. This enables appropriate vehicle health management and early detection… Read more »
NOVONIX and LG Energy Solution partner to produce artificial graphite anode materials for EV batteries
NOVONIX, a battery materials firm, and LG Energy Solution, a battery manufacturer, have announced a partnership to produce artificial graphite anode material for lithium-ion batteries. NOVONIX also agreed to issue $30 million in unsecured convertible notes to LG Energy Solution. LG Energy Solution and NOVONIX will engage in a separate purchase agreement when specific development… Read more »
LG unveils new digital signage display for EV charging stations
Digital signage company LG Business Solutions USA has unveiled its new dual-sided 55-inch display that is integrated with the Broadsign digital-out-of-home (DOOH) advertising software platform. It was demonstrated for the first time in June. The Broadsign platform offers access to a network of more than 35 integrated advertising buying platforms, including The Trade Desk, Google… Read more »
LG Energy Solution invests AUD20 million in Green Technology Metals for lithium supply
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 »
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 »