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LG Chem in batteries joint venture with China’s Geely

Fri, 06/21/2019 - 09:00 -- John Shepherd
LG Chem in batteries joint venture with China’s Geely

South Korea’s LG Chem is setting up a joint electric vehicle batteries business with Chinese carmaker Zhejiang Geely Holding Group.

Each company has invested around US$94 million in the 50-50 joint venture, which, by the end of 2021, will produce 10GWh of EV batteries annually for the Chinese market.

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