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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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Mitsui invests in bus battery leasing scheme

Wed, 04/17/2019 - 13:49 -- John Shepherd

A US$200 million credit facility to support a battery-leasing programme for electric buses in North America has been launched by Japanese chemicals company Mitsui & Co and automotive firm Proterra.

The companies said the initiative is expected to lower the upfront costs of zero-emission buses and make Proterra’s electric buses “roughly the same price as a diesel bus”.

California-based Proterra said bus operators can purchase a vehicle and lease its battery packs— based on lithium-ion technology co-developed with South Korea’s LG Chem— over the 12-year lifetime of the bus.

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SK Innovation building Polish battery plant

Fri, 03/29/2019 - 10:42 -- Hugh Finzel

SK Innovation is to start work on a factory in Poland to manufacture lithium-ion battery separators (LiBS) and ceramic coated separators (CCS) for electric vehicle batteries in Europe.

The South Korean group will break ground on the plant site in Województwo Śląskie in southern Poland in the third quarter of 2019— and expects to begin mass production in the third quarter of 2021.

SK Innovation intends to invest €335 million (US$378m) to realise four LiBS production units and three CCS production units on the 270,000 square metre site.

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LG Chem’s batteries aid record sales

Mon, 02/11/2019 - 00:00 -- John Shepherd

South Korean battery giant LG Chem said the company achieved record battery sales in the fourth quarter of 2018.

Battery sales for the period exceeded KRW2 trillion (US$1.8 billion), helping push overall sales for the whole of 2018 to a total of KRW28.18tn— the highest since the company was created.

LG Chem said while overall sales grew 9.7% year-on-year in 2018, operating profit fell 23.3% year-on-year to KRW2.24tn.

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LG Chem expands battery investment in China

Mon, 01/14/2019 - 00:00 -- John Shepherd

South Korean battery giant LG Chem has confirmed plans to invest the equivalent of more than US$1 billion to expand its battery manufacturing capacity in eastern China.

LG Chem signed a 1.1 trillion Korean won (KRW) investment contract with municipal and city leaders to include building a third plant in Nanjing, which will produce electric vehicle (EV) batteries.

According to the agreement, LG Chem will invest KRW600bn in the new plant and an existing EV and small battery plant by 2020 respectively— all in the Nanjing Xinjiang Economic Development Zone.

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Battery giants back Korean R&D investment fund

Wed, 12/19/2018 - 00:00 -- John Shepherd
Yunmo Sung

Three South Korean battery giants have signed up to an agreement to support the launch of a government-backed “next-generation batteries investment fund”.

Samsung SDI, LG Chem and SK Innovation have signed a memorandum of understanding (MOU) to support the KRW1 billion (US$885,000) fund, the Ministry of Commerce, Industry and Energy (MOCIE) said.

The signing comes a year after South Korea’s government said it would support plans to expand domestic battery production and challenge China’s increasing dominance of the global market.

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LG Chem ‘plans second Poland battery plant’

Mon, 12/10/2018 - 00:00 -- John Shepherd
LG Chem groundbreaking ceremony in Poland

South Korea’s LG Chem is reportedly set to build a second lithium-ion batteries production plant in Poland as orders outstrip the capacity of its existing facility in the country.

The move comes just a year after production of batteries for electric vehicles started at the group’s existing Kobierzyce production facility in southwestern Poland, with a capacity of around 100,000 batteries annually.

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Canada’s Eguana to produce home BESS units in South Australia

Mon, 11/26/2018 - 00:00 -- John Shepherd
Evolve residential battery

Canadian energy storage firm Eguana Technologies has been approved to take part in a residential batteries scheme in the state of South Australia.

Eguana is to produce its ‘Evolve’ home battery systems in the state as part of the programme— which is backed by AUD100 million (US$72.5m) in subsidies and low interest loans to encourage residential storage.

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