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Canadian company buys out South Korea’s iQ Power

Thu, 12/07/2017 - 10:19 -- News Editor
Canadian company buys out South Korea’s iQ Power

South Korea’s battery manufacturer iQ Power Asia Inc. has been acquired by Vancouver-based lead-acid battery maker Discover Energy and will operates as a subsidiary under a new name.

The new business is called Discover MIXTECH Manufacturing Co Ltd and will be led by Steve Nam, the South Korean manufacturing site helps secure Discover’s global supply of automotive and commercial batteries.

 

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Akasol launches Li battery systems plant for buses

Thu, 11/23/2017 - 10:16 -- Xuan Zhong
Akasol launches Li battery systems plant for buses

German battery manufacturer Akasol has launched production of its high-performance lithium-ion systems for commercial vehicles at its new EUR10 million ($11.7m) plant in Langen, near Frankfurt.

Akasol started production on 16 November at the 600MWh capacity facility. The company said it has already secured contracts to supply its battery systems for 10,000 buses being built by two European bus manufacturers in the next few years.

 

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LG Chem ‘buys stake in nickel sulfate supplier’

Thu, 11/16/2017 - 10:56 -- Xuan Zhong
LG Chem ‘buys stake in nickel sulfate supplier’

LG Chem has reportedly invested KRW1 billion ($897,000) to acquire a 10% stake in South Korean nickel sulfate supplier company Kemco, with the aim of boosting its lithium-ion battery business for the electric vehicles market.

The South Korean tech firm will enter the batteries raw material business in the new year, the Maeil Business Newspaperquoted an unnamed LG Chem source as saying.

 
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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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SK ‘adds nickel to batteries’ for extended EV range

Wed, 09/06/2017 - 16:48 -- News Editor
SK ‘adds nickel to batteries’ for extended EV range

South Korean tech giant SK Innovation is reportedly launching commercial production of new batteries with higher nickel content to extend the distance electric vehicles can travel between charges.

According to Reuters, SK said it has developed a new range of NMC lithium-ion batteries composed of 80% nickel, 10% cobalt and 10% manganese— instead of current units with a nickel content of around 60%.

 

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Canada lead-acid firm expands in South Korea

Fri, 09/01/2017 - 09:37 -- News Editor
Canada lead-acid firm expands in South Korea

Vancouver-based lead-acid battery firm Discover is launching an SLI lead-acid manufacturing plant in South Korea, backed by Canadian export financing.

Discover, which was awarded $15 million from Export Development Canada (EDC), told BBB the financing supported the firm’s acquisition of an existing battery plant site in South Korea.

 

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SK aims to take 30% of total battery market

Tue, 06/06/2017 - 10:02 -- Xuan Zhong
SK aims to take 30% of total battery market

South Korea’s SK Innovation aims to take nearly a third of the global battery market by 2025.

The company, which also owns an oil refinery and chemicals business, has ambitious plans to expand its battery production from 4.4% market share (1.1 GWh) last year to 10% by 2020 and 30% in eight years’ time – when the rapidly-growing electric car battery market is expected to be demanding a total of 300 GWh (up from 25 GWh in 2016).

 

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€300M ($327.5M) boost in NMC production

Mon, 05/15/2017 - 10:44 -- Xuan Zhong
€300M ($327.5M) boost in NMC production

Global materials technology and recycling group Umicore plans to invest €300 million ($327.5 million) between 2017 and 2019 to further increase its production of NMC (nickel-manganese-cobalt) cathode materials for lithium-ion rechargeable batteries.

The Brussels-based company says demand for its NMC materials from electric vehicle manufacturers is outpacing the market and the increased capacity will enable it to cater for a surge in orders. The investment in its plants in South Korea and China will also enable the company to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in high-end consumer electronics.

 

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Kokam unveils lithium NMC battery for mobile applications

Fri, 03/10/2017 - 09:23 -- Xuan Zhong

South Korean battery maker Kokam has unveiled a Lithium Nickel Manganese Cobalt (NMC) for electric vehicle applications on Monday.

The XPAND battery pack is the result of four years R&D and product development, and features advanced battery technologies including a ceramic separator and battery pack thermal containment technologies.

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South Korea aims to boost ESS use with latest round of incentives

Wed, 09/28/2016 - 15:26 -- Paul Crompton
South Korea aims to boost ESS use with latest round of incentives

Incentives to encouraging solar power plant operators to use more battery energy storage systems (ESS) are being made available by South Korea’s government.

The government’s decision to provide incentives form part of its efforts to boost the country’s renewable energy market, according to Yonhap news agency.

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