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Paik Un-gyu

South Korea plans Li-on push in face of China sanctions

Mon, 09/18/2017 - 11:46 -- News Editor
South Korea plans Li-on push in face of China sanctions

South Korea is backing plans by the country’s battery giants to inject a total of KRW2.3 trillion ($2.3 billion) into the sector over the next three years, to expand production and challenge China’s increasing dominance of the market.

The move, led by battery giants LG Chem, Samsung SDI and SK Innovation Companies is in response to Chinese sanctions the firms say effectively block the use of South Korean batteries in electric vehicles in China.

 

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