SEOUL, Jun. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday it has signed an initial pact with a U.S. company to strengthen the competitiveness of its electric vehicle (EV) battery management solutions. LGES has signed a memorandum of understanding (MOU) with Analog Devices, Inc. (ADI) to jointly [...]
SEOUL, May 7 (Korea Bizwire) – The electric vehicle fervor that once gripped global markets seems to be waning, and South Korea’s battery industry is feeling the pinch. In the aftermath of a sharp decline in demand for electric vehicles since mid-2023, major players in South Korea’s battery sector find themselves navigating compensation negotiations with international [...]
SEOUL, Apr. 26 (Korea Bizwire) — POSCO Future M Co., the battery materials unit of POSCO Holdings Inc., said Friday it will set up a joint venture (JV) with Honda Motor Co. in Canada mainly for the supply of a core battery material to the Japanese carmaker. The two companies have signed a memorandum of [...]
SEOUL, Apr. 25 (Korea Bizwire) – LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its first-quarter net profit plunged 62 percent from a year earlier due to slowing electric vehicle sales. Net profit for the three months ended in March plummeted to 212.1 billion won (US$154 million) from 562 billion won [...]
SEOUL, Apr. 24 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it has started construction of an electric vehicle (EV) battery plant in Spain. The company said it held a groundbreaking ceremony for the envisioned 150,000-square-meter factory in Navarre, Spain, on Tuesday. Hyundai Mobis aims to start mass production [...]
SEOUL, Apr. 16 (Korea Bizwire) — SK Group, South Korea’s chip-to-battery conglomerate, emerged as the second-most-valuable conglomerate after Samsung Group in the Korean stock markets at the end of March, a corporate data firm said Tuesday. SK Group’s emergence was helped by a sharp increase in the value of its chip-making affiliate, SK hynix Inc., [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
SEOUL, Apr. 4 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday it has begun the construction of its US$5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGES plans to produce 46-Series cylindrical batteries for electric vehicles (EVs) and lithium iron phosphate (LFP) [...]
SEOUL, Apr. 2 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday its joint venture with General Motors Co. began production at their second battery plant in the United States. The first round of battery cells produced at the plant have been delivered to GM for installation in the [...]
SEOUL, Mar. 25 (Korea Bizwire) — L&F Co., a South Korean cathode material company, said Monday it has signed a 13.19 trillion-won (US$9.85 billion) deal to supply high-nickel cathodes to SK On Co., the battery unit of chip-to-construction conglomerate SK Group. L&F will supply 300,000 tons of high-nickel cathode materials for SK On’s car batteries [...]