LG Energy Solutions

Hyundai Motor Group and LG Energy Solution (LGES) are going to inject an additional $2 billion into their $4.3 billion US EV battery factory.

According to a new report, Hyundai Motor Group is forming a powerhouse EV alliance by joining forces with fellow South Korean tech giants Samsung, SK, and LG.

South Korea’s Hyundai Motor Group and LG Energy Solution (LGES) just announced that they will build a $4.3 billion EV battery plant in the state of Georgia.

Korean lithium-ion battery giant LG Energy Solution (LGES) wants to position itself as a battery storage system provider, so it’s launching a residential battery storage system in the US.

Honda and LG Energy Solutions joint venture (JV) broke ground on their $3.5 billion EV battery plant in Fayette County, Ohio, Tuesday as the company aims to begin mass production in 2025.

Ford signed into a memorandum of understanding (MoU) to establish a new joint venture Tuesday with LG Energy Solution and Koç Holding. The JV plans to build one of Europe’s largest commercial EV battery cell facilities, with up to 45 GWh in potential annual production capacity.

The 2022 report from South Korean firm SNE Research shows that EV battery manufacturer CATL once again holds its title as the largest in the world by installed battery capacity. That’s now six years in a row that CATL leads the global EV battery market and based on 2022’s numbers, is showing no signs of slowing down.

Plans for a fourth electric vehicle battery plant from the GM and LG Energy Solution partnership are on hold “indefinitely” after executives ended discussions without agreeing to move forward. The automaker is now consulting with at least one other battery supplier for its next US facility.

Ford Motor Company will reportedly partner with LG Energy Solution to erect a new battery plant in Turkey capable of an annual capacity up to 45 gigawatt-hours (GWh). In order to work with LG, Ford will have to back out of a previous deal with SK On, the battery division of SK Innovation and a current partner on several other projects.

The Biden administration today announced that it’s closed a $2.5 billion loan for Ultium Cells, a joint venture between GM and South Korean battery maker LG Energy Solution. The loan will go toward financing the construction of new lithium-ion battery cell factories in Ohio, Tennessee, and Michigan.

Hyundai plans to hold onto its early success in the rapidly evolving US EV market. According to a new report, the South Korean automaker is mulling two additional battery plants in a joint venture with LG Energy Solutions.

Carbon-conscious mining company Snow Lake Lithium and battery production specialist LG Energy Solution announced they have signed a Memorandum of Understanding (MOU) to establish a domestic supply chain of lithium in North America. When Snow Lake’s lithium mining operation gets up and running in 2025, it plans to supply LG with the precious Earth material essential to current EV battery chemistry. This domestic supply chain could help several automakers qualify for US federal tax credits as well.

Compass Mineral International, a leading supplier of essential minerals like salt and sulfate of potash (used in plant fertilizer), has been pivoting to focus on the “new gold” rush, lithium. The minerals company, which has deals to supply lithium for EV leaders like Ford and LG Energy, is doubling down by using a new extraction technology to obtain the mineral with minimal impact on the environment.

The US Department of Energy (DOE) has announced a conditional loan of $2.5 billion for Ultium Cells, a joint venture of General Motors (GM) and battery manufacturer LG Energy Solution, to help finance EV lithium-ion battery cell factories in three states. The loan is intended to support the expansion of electric vehicle deployment in the US.

LG announced that it is investing $450 million into producing 4680 battery cells, a format pioneered by Tesla.

While the Korean battery manufacturer didn’t confirm that the new cells will be for Tesla, it is extremely likely.

Stellantis and LG Energy announce that they will together build a new 45 GWh battery cell factory in Windsor, Ontario, Canada.

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.

New data from a South Korean research firm shows that EV battery manufacturer CATL is once against the largest in the world by installed battery capacity. The company saw growth over 165% compared to 2020 and holds the title of world’s largest battery manufacturer for the fifth year in a row.

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.

Amsterdam-headquartered global auto manufacturer Stellantis and South Korean battery maker LG Energy Solution announced a joint venture on October 18 to produce battery cells and modules for North America. Now Stellantis has today announced yet another battery production partnership, with Samsung SDI.

GM and LG announced that they came to an agreement over who is going to take on most of the cost of the battery recall over potential fire risk for the Bolt EV.

LG is going to be left with almost the entire cost.