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LG Chem

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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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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Sonnen fends off Asian firms in battery storage ‘league table’

Tue, 05/21/2019 - 12:29 -- John Shepherd
Sonnen fends off Asian firms in battery storage ‘league table’

Two Asian battery makers are challenging the dominance of Germany's Sonnen as the top provider of energy storage systems in the country, according to latest research.

Sonnen is still ranked No.1 in the annual ‘league table’ of home storage systems with a market share of 18%, according to an annual study compiled by Bonn-based market and opinion research institute EuPD. But South Korea’s LG Chem and China’s BYD are…

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Regulators in BESS safety review warning after US explosion

Fri, 05/17/2019 - 09:38 -- John Shepherd
Regulators in BESS safety review warning after US explosion

Regulators in the US have warned a major shake-up of safety standards may be needed for home battery storage systems in the wake of an explosion at a lithium-ion grid-scale battery storage facility in Arizona.

The Arizona Public Service (APS) utility told BEST Battery Briefing an investigation into what caused the “catastrophic failure” of the 2MW/2MWh system at its McMicken facility last month in the city of Surprise was still under way.

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