LG Chem today announced that it has signed a memorandum of understanding with the state of Tennessee to build a $3 billion cathode factory for electric vehicles.
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LG Energy Solution is investing $1.7 billion and creating 1,200 jobs at its existing EV battery factory in Holland, Michigan. The expansion of the factory will quintuple its capacity to produce EV battery components.
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To meet increasing market demand, lithium-ion battery resource recovery specialists Li-Cycle has announced plans to increase the processing capacity of an upcoming New York facility by 40%. In addition to expanding its US battery recycling footprint, Li-Cycle has also entered into a letter of intent with LG to create a closed-loop battery ecosystem.
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Electric vehicle sales seem to be growing by the minute in the US. Although they still only have a tiny corner of the auto market cornered, astronomical valuations of industry leaders like Tesla offer a glimpse at the potential of a virtually nascent market. In order to bring costs down even further to entice consumers, the US has plans to amplify battery production on its home soil over the next decade. With global competitors miles ahead, does the US have the technology, or more importantly the resources, to gain ground in the EV battery market?
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LG has signed a massive agreement to reportedly invest close to $10 billion in Indonesia to make batteries in the country.
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The relationship between Tesla and LG Chem appears to be growing stronger lately, and now we learn of a new deal for the latter to supply a nickel-based battery to the automaker, according to a new report.
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LG Chem plans to apparently more than double its battery cell production in order to support demand from one of its newer customers: Tesla.
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LG Chem, who recently started supplying Tesla with cylindrical battery cells, announced that it is preparing to triple cylindrical cell production.
The company even hinted that it would make its own battery cells like Tesla’s new 4680 cell.
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Tesla is looking to acquire a stake in LG’s upcoming separated battery business, according to a surprising new report.
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Tesla has reportedly secured more battery supply from LG Chem who is going to assign capacity from a Korean factory to the California-based automaker. Expand
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The Korea Herald reports that pre-pandemic shortages of battery supply, which caused delays for European automakers, have been made worse by the global crisis. The situation became urgent enough for the Polish government to waive travel restrictions, allowing 200 LG Chem technicians to resume expansion of its battery gigafactory in Wroclaw.
Lucid just announced the Dream Edition of the Lucid Air to be unveiled at the New York Auto Show (NYIAS) in April will be powered by the LG Chem cells. Cylindrical cells from the global battery supplier were selected due to their energy density and high availability.
GM has announced a new joint-venture with LG Chem to build their own battery gigafactory, which will have 30 GWh of annual capacity, in Ohio.
The two companies promise a new “industry-leading cost per kilowatt hours” in GM’s future electric vehicles. Expand
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In July it was announced that LG Chem was working on a potential new billion-dollar US battery cell factory for electric cars. Today in a security filing in South Korea, LG Chem confirmed that investment, and that GM will invest another billion.
Reuters reports that the location is expected to be in the area of Lordstown, Ohio, where GM (pictured in Detroit) recently sold its factory to an EV startup affiliated with Workhorse. This follows news earlier this week that Piedmont Lithium received an important federal permit to proceed with its lithium mine in Gaston County, North Carolina — the second in North America. Looks like Interstate 77 will be America’s hot new lithium corridor.
Tesla has reportedly signed a battery supply deal with LG Chem for Gigafactory 3 in China. It would be Tesla’s first deal to supply battery cells for its electric vehicles with a company other than Panasonic. Expand
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LG Chem, one of the leading producers of Li-Ion battery cells for electric cars, is working on a potential new billion-dollar US battery cell factory. Expand
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LG Chem, one of the top battery suppliers for electric vehicles, filed federal lawsuits against SK Innovation (SKI), another top battery supplier for electric vehicles, over allegedly stealing trade secrets. Expand
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VW has long been considering to build its own gigafactories to produce a high number of battery cells for its upcoming electric vehicles, but we now learn that LG reportedly killed the plans by threatening to cut VW’s current battery cell supply. Expand
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Demand for electric vehicle batteries is rising at an incredible pace, and battery manufacturers like LG Chem are trying to keep up and accelerate their investments.
LG announced this week that it is investing half a billion in its Polish battery factory to increase production to an impressive 70 GWh per year. Expand
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With new electric vehicles coming to market at an increasing pace and demand growing rapidly, securing battery suppliers is becoming a top priority for automakers serious about electrification.
In order to do that, VW created a ‘task force’ with battery supplier LG Chem. Expand
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China’s protectionist laws are currently being relaxed when it comes to electric vehicles, but there are still some rigorous restrictions. For example, Chinese electric vehicles need to be powered by Chinese batteries.
A new report now shows that Geely found a workaround for Volvo’s electric vehicles by using Korean batteries made in China and the competition isn’t happy about it. Expand
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LG is trying to position itself as an important new auto supplier for the transition to electric vehicles. The Chevy Bolt EV helped them recently since they manufacture several of the most important systems for the electric car, especially the battery pack through its LG Chem division.
Now the company announced that it will support the production of 100,000 electric cars per year with new battery factory in Poland. Expand
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Korea-based electronic giant LG is making most of the components that make the Chevy Bolt EV an electric vehicle, including the battery pack, electric motor, and power electronics, and the battery packs for the Volt. Therefore, its production capacity will determine GM’s total output for what is currently its only all-electric vehicle in production.
In what could be a good sign for the Bolt EV and the Volt, LG announced this week an expansion of its production facility in Holland, Michigan. Expand
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Earlier this month, Lucid Motors announced a partnership with Samsung SDI to supply a custom li-ion battery cell that they developed with the Korean electronic giant for Lucid’s all-electric sedan, which they finally unveiled last week.
Today, the automaker announced that they secured a second battery cell supply contract – this time with LG Chem. Expand
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