The vice chairman of LG Corp, the holding company of the LG business group, will become the new CEO of LG Energy Solution.LG vice chairman Kwon Young-soo will take the top job of the South Korean battery maker after votes from shareholders and the board.Kwon had previous headed the battery business

Samsung SDI said on Friday that it will form a battery manufacturing joint venture with automobile giant Stellantis.The pair’s joint venture will build a battery factory in the US with a capacity of 23GWh by 2025, the South Korean battery maker said.Samsung SDI said the capacity could be upped to 40

EcoPro EM, the joint venture between Samsung SDI and EcoPro BM, has started the operation of its new cathode factory.The company said on Thursday that CAM6 at Pohang city has started operation. The factory is commencing trial runs and full production will begin during the first quarter of 2022.EcoPr

Posco Chemical said on Thursday in its preliminary guidance that it is expecting sales of 505 billion won and 31.5 billion won in operating income in the third quarter.Sales and operating income increased 29.9% and 62.4% from a year ago.Posco Chemical said it saw solid sales increase in all of its b

Image: TheElecMore and more South Korean battery production equipment makers are expanding into the battery material market.As battery cell makers wrapping up their latest facility expansions, these companies are hoping to supply them with materials for new sales.Such companies include Cowin Tech, Y

Cowin Tech said on Thursday that it will spend 8.3 billion won to expand its first factory at Asan.The company said the expansion will triple its production capacity for smart automation system equipment.Cowin Tech is expanding the facility to meet new orders.A company spokesperson said it is aiming

LG Energy Solution said on Tuesday that it has restarted procedures for an IPO after settling the cost of the recall of Chevrolet Bolt EV with General Motors.The South Korean battery maker had started the procedure back in June but halted it from the US carmaker announcing an additional recall of th

The top ten lithium-ion battery production equipment companies based on revenue for 2020 included five from China and three from South Korea, according to analyst firm QYResearch Korea.China’s Wuxi Lead was the top vendor, while South Korea’s PNT ranked second place.Yinghe Technology, CHR, Blue Key

Battery prices going down will be the precondition for electric vehicle sales to expand, according to a CEO of an analyst firm.SNE Research CEO Kim Kwangju, speaking at the firm’s event called KABC 2021 in Seoul, South Korea, stressed that automobile brands such as Volkswagen, Stellantis and Tesla h

Samsung Electronics said on Friday that it posted 73 trillion won in sales and 15.8 trillion won in operating profit.It is an increase of 9.02% and 27.94%, respectively, from a year ago.The sales figure is its highest to date for a quarter; operating profit is its highest in three years.Samsung’s se

Cosmo AM&T will start operations in November of its factory that recently completed its expansion.The company added 2800mm width coaters to the factory, which can manufacture 14 million meter square of release films used in multi-layer ceramic capacitors (MLCC) per month, Cosmo AM&T said on Tuesday.

Hyundai Motor has begun the development of electric vehicles powered by lithium iron phosphate (LFP) batteries to launch outside of China, TheElec has learned.The South Korean automobile giant so far only manufactured electric vehicles that use LFP batteries in China.Hyundai Motor began the developm

Battery production equipment maker Philenergy said on Thursday that it has recorded over 120 billion won in accumulated sales up to the third quarter this year.The figure is an increase of around 6 times over the same time period last year.Philenergy offers notching and stacking kits used in battery

SK IE Technology, the material-making subsidiary of SK Innovation, will start the operation of its first separator factory in Poland during the fourth quarter, the company said.The first factory at Slaskie has an annual capacity of 340 million meter-square, which is enough to provide over 300,000 un

Battery electrode slot die equipment maker GI Tech is aiming to list on KOSDAQ on October 21.The company will be offering 2.7 million shares for sales. It is asking for a price between 11,500 won to 13,100 won per share. Mirae Asset Securities is underwriting the deal. It is seeking up to 35.4 billi

South Korean battery production equipment maker A-Pro will be supplying its charge/discharge equipment to Ultium Cells, the joint venture between LG Energy Solution and General Motors.A-Pro said it will deliver the kits from its research center at Siheung, South Korea, and begin shipping in October.

SK On, the battery business unit of SK Innovation, is considering developing lithium iron phosphate (LFP) batteries, its CEO told Reuters.The South Korean battery maker is considering developing LFP batteries for specific applications such as low-priced vehicles, SK On CEO Jee Dong-seob said."There

SK Innovation has officially split off its battery business into a new company called SK On on Friday.Its petrochemical business has also been split off into a new company called SK Earthon.SK On’s first CEO will be Ji Song-seop, who led SK Innovation’s battery business.Ji joined SK Group back in 19

The financial crisis of China’s Evergrande Group is expected to impact the businesses of some South Korean battery equipment makers.The group formed a subsidiary called Yangzhou Evergrande Neoenergy Technology Development in 2019 to expand into the electric vehicle industry.This company had signed m

Samsung will procure batteries for the upcoming Galaxy S22 smartphones series from both China’s Amperex Technology Limited (ATL) and Samsung SDI, TheElec has learned.Batteries from both companies will be used in the initial batch of the phones, sources said.The Chinese company was once removed from