LG Chem posted its second quarter performance to date in the second quarter of 2021.This was thanks to its battery subsidiary LG Energy Solution posting four times the operating profit from a year ago, and strong performance of LG Chem’s petrochemical business.LG Chem said on Thursday that it record

LG Chem will acquire LG Electronics’ battery separator business unit.The South Korean chemical said on Thursday that it will acquire LG Electronics’ chemical and electronics materials (CEM) business for 525 billion won.The acquisition means LG Chem will now have technologies in cathode, anode, separ

Hyundai Motor and LG Energy Solution said on Thursday that they have signed an agreement to build a joint battery factory in Indonesia.The factory will have a capacity of 10GWh per year and start production in 2024.The pair will spend US$1.1 billion in total on the venture, each owning half of the s

Posco said on Wednesday that it plans to build a new factory that will produce high purity nickel uses in cathodes for electric vehicle batteries.The company plans to spend 230 billion won to install steel removal process on its subsidiary SNNC’s existing factory equipment.Posco will also build a ne

Samsung SDI said on Tuesday that it has posted 3.33 trillion won in sales and 295.2 billion won in operating income in the second quarter.Sales jumped 30.3% year-on-year while operating income surged 184.4% over the same time period.Sales was Samsung SDI’s highest in record. The company credited the

Cosmo Advanced Materials on Monday said it has recorded 5.8 billion won in operating income in the second quarter.It is an increase of 167% from the same time period a year ago.The company said its main businesses, NCM battery cathodes and films for multi layer ceramic capacitors, led the growth.Cos

LG Energy Solution was the top vendor in batteries from January to May in the global market excluding China, according to SNE Research.The South Korean company held a 35.5% market share during the time period, an increase of 7 points from 28.8% of the same time period a year ago.This was followed by

General Motors will recall its Chevrolet Bolt EV due to defects found in some of the batteries supplied by LG Energy Solution.The US car firm said some of the fire involving the model was caused by production defects in some of the batter cells.General Motors and LG Energy Solution had asked custome

High-end automobile brand Mercedes-Benz will only manufacture electric vehicles starting in 2030, the company said on Thursday.The brand, part of Daimler Group, will stop investing in combustible engine cars after 2025.Mercedes-Benz will spend 40 billion euros for the plan. It will also construct ei

Chemical firm BASF said on Thursday that it has be selected as a battery development partner to Cellforce Group.Cellforce Group is a joint venture between Porsche and German lithium-ion battery firm Customcells.BASF will be the sole supplier of NCM cathode with HED lithium stabilization technology a

LG Energy Solution will procure lithium from Australia’s Vulcan Energy.The five year contract can be extended by another five years. The contract will be signed in November.Vulcan Energy will supply 5,000 metric tonnes of lithium hydroxide in 2024. Afterwards, it will supply 10,000 metric tonnes of

The chief of Prime Planet Energy & Solutions, the battery joint venture of Toyota and Panasonic, said the company plans to reduce to cost of electric car batteries by half starting in 2022.Prime Plant president Hiroaki Koda told Bloomberg that the company’s aim is reduce cost further by 70% by 2025.

Cosmo AM&T will expand its NCM (nickel, cobalt and manganese) cathode production by 50,000 metric tonnes, the company said on Monday.It will spend 150 billion won for the expansion, which will be completed by 2023.In total, Cosmo AM&T will have an annual production capacity of 70,000 metric tonnes p

SK Innovation said on Sunday that it will receive financial support from the European Union for the 90 million euros it will cost to build its second battery in Hungary.The South Korean company’s second factory at Komarom is expected to be completed within the year. It will start commercial operatio

Ford will “definitely” continue to collaborate with SK Innovation even after it begins making its own batteries, a company executive said.Darren Palmer, general manager of Ford’s battery electric vehicles division, said at Chicago Auto Show 2021 that the US autogiant will definitely continue its col

LG Chem said on Wednesday that it plans to spend 6 trillion won into its battery business by 2025.It will spend a total 10 trillion won on what it calls its three new growth engine by that year, company vice chairman Shin Hak-cheol said.LG Chem will spend 6 trillion won into its battery business, 3

Sungeel Hitech said on Monday that it has completed its second battery recycling factory in Hungary.The new factory can process 50,000 metric tonnes of used batteries per year. This is equivalent to batteries used to power 20,000 units of electric cars per year.Sungeel said it can extract 96% of the

EVE Energy will acquire a stake in a local lithium producer in China that will see it procure 30,000 metric tonnes of lithium per year through a joint venture, Reuters reports.The Chinese battery firm will acquire a 28.1% stake in Jinkulun Lithium Industry.The pair will form a joint venture based in

LG Chem said on Monday that it plans to expand its production lines for nitrile butadiene latex (NBL) across Asia.It will gradually expand its lines at South Korea, China and Malaysia, the company said.NBL is used in nitrile gloves. It is more elastic than silicon pouch and can block oxygen over fiv

French battery startup Verkor has raised 100 million euros in funding.The funds will be used by the company to build a battery factory in France.The funding round was led by EQT Ventures and Renault Group, which the startup supplies batteries to.Verkor was founded in July last year. It is based at G