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LG Chem

Automotive and battery giants launch search for the industry’s best start-ups

Wed, 06/24/2020 - 10:42 -- Paul Crompton

Automotive OEMs Hyundai, Kia and lithium-ion battery giant LG Chem have sponsored a global competition to identify promising start-ups in the e-mobility industry. 

Start-ups developing technologies and business models for EVs and batteries can apply to the ‘EV & Battery Challenge’ until 28 August via a website set up especially for the competition. 

Up to 10 winning start-ups will have the opportunity to work with Hyundai, Kia, and LG Chem to develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources and laboratories. 

The seven categories are: 

  1. Next-generation battery materials to increase mileage and safety 
  2. Recycling of battery materials
  3. Control systems to increase battery efficiency
  4. Process technology to increase productivity and quality control
  5. EV drive units
  6. Personalisation services for electric cars
  7. BEV’s charging and energy management

Among the credentials the judges are looking for are: a validated concept and a working prototype; should clearly differentiate from existing solutions and provide plans for global scale; include a business model based on credible commercial and economic assumptions.

Submitted documents will be examined in a first round with the most promising candidates interviewed personally via video conference in October.

The final selection committee is to meet in November at a workshop at the Hyundai Motor Group’s ‘Open Innovation Hub’ in Silicon Valley, California, US. 

After that, Hyundai, Kia and LG Chem will verify the technologies and review them to see if direct financial investment is possible.

New Energy Nexus, the international start-up support organisation, will manage and facilitate the competition.

Interested parties can view more details HERE

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LG Chem halts plans for India lithium-ion battery factory

Wed, 05/27/2020 - 11:03 -- Paul Crompton

Korean battery giant LG Chem has halted its lithium-ion battery project in India as the Covid-19 pandemic continues to hit the automotive market, according to reports.

The company was in talks with Renault, Mahindra & Mahindra and Hyundai for an Indian consortium for the project and regarding equity participation for the same, reported the country’s newspaper The Economic Times

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LG Chem extends Carbon Nanotubes (CNT) plant by 1,200 tons to meet growing demand from EV market

Wed, 05/06/2020 - 12:11 -- Paul Crompton

Korean battery materials firm LG Chem has announced it will invest around KRW 65 billion ($53 million) to expand carbon nanotube (CNT) manufacturing by 1,200 tons at its Yeosu plant.

The company is aiming to expand production by Q1 of next year as it targets the industry sector, which is expected to more than triple to reach 13,000 tons by 2024 mainly via the global EV market.

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GM electric vehicle strategy centres on proprietary lithium-ion battery developed with LG Chem

Wed, 03/11/2020 - 14:00 -- Paul Crompton

General Motors strategy to grow the company’s electric vehicle (EV) market share centres around its in-house pouch cell designed lithium-ion drive train.

The Ultium battery uses large-format, pouch-style cells that can be stacked vertically or horizontally inside the battery pack to optimise energy storage capacity and allow bespoke layout for vehicle design.

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LG Chem lithium-ion battery supply shortage causes halt to electric vehicle manufacturing

Thu, 02/13/2020 - 14:40 -- Paul Crompton

A shortage of lithium-ion batteries from LG Chem’s European gigafactory forced luxury vehicle OEM Jaguar to halt production of its I-Pace electric car.

Jaguar was unable to secure enough batteries from the Korean firm’s Poland factory to continue production of its £61,000 SUV at a factory in Graz, Austria, for a week from 10 February.

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Tesla side-steps long-term lithium-ion cell supplier to partner with LG Chem and CATL for its Gigafactory 3

Fri, 01/31/2020 - 10:32 -- Paul Crompton

Vehicle and energy storage firm Tesla has entered into a partnership with South Korea’s LG Chem and China’s CATL as it looks to secure a lithium-ion battery supply for its electric cars at its Gigafactory 3 plant in Shanghai.

Rumours that Tesla would move from its exclusive cell supplier Panasonic to meet demand at the China Gigafactory 3 first surfaced last August.

*UPDATE* CATL confirmed in a stock exchange filing on Monday, 3 February, it had signed a two-year battery supply agreement with Tesla, with the US firm determining the battery purchase volume. The deal starts this July and closes June 2022.

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LG Chem secures $5bn loan to build lithium-ion manufacturing plants as it announces US gigafactory plans with GM

Wed, 12/11/2019 - 14:14 -- Paul Crompton

Korean battery maker LG Chem has secured around $5 billion in loans to build lithium-ion manufacturing plants outside of the country between 2020 and 2024.

The money has been earmarked by a group of financial institutions led by the state-run lender Korea Development Bank (KDB), and which includes the Export-Import Bank of Korea and Nonghyup Bank.

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Bank extends loan to LG Chem as it forges ahead with European lithium-ion gigafactory plans

Wed, 11/27/2019 - 15:57 -- Paul Crompton

The European Bank for Reconstruction and Development (EBRD) has extended a long-term loan of €250 million ($275 million) to support the construction of Korean battery maker LG Chem’s European lithium-ion gigafactory.

The company is set to build a battery production plant in Wrocław in western Poland in three phases.

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Umicore signs deal to supply 125,000mt of lithium-ion cathode materials to LG Chem

Thu, 09/26/2019 - 12:24 -- Paul Crompton

Umicore will begin delivering cathode materials for nickel manganese cobalt (NMC) lithium-ion batteries to LG Chem next year after signing a multi-year strategic supply agreement.

The agreement is for a total volume of 125,000 metric tonnes to be delivered over ‘several years’ out of Umicore plants in Poland, Korea and China. 

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LG Chem contest to find world’s ‘battery innovators’

Wed, 07/24/2019 - 12:32 -- Paul Crompton
LG Chem contest to find world’s ‘battery innovators’

An international contest to find the battery tech innovators of the future has been launched by South Korea’s LG Chem.

The lithium-ion battery maker is asking for proposals relating to battery cells, packs and “all next generation battery technologies” for its LG Chem Global Innovation Contest.

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