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SK Innovation to build EV batteries in US?

Mon, 10/08/2018 - 00:00 -- Hugh Finzel
SK innovation

South Korean energy and chemical company SK Innovation (SKI) is reportedly considering building an electric vehicle battery plant in the US, but is staying tight-lipped on details.

The announcement follows President Donald Trump’s order of a ‘Section 232’ investigation that could lead to the US slapping a 25% import tariff on automobile parts brought into the US. 

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LG Chem hails “massive” deal with China’s Ganfeng for batteries

Tue, 08/28/2018 - 12:27 -- John Shepherd
LG Chem logo

South Korean battery firm LG Chem has agreed a deal to acquire a “massive volume” of a key material from China's largest lithium compounds producer, to spur production of batteries for electric vehicles.

LG Chem said it had signed a contract with Ganfeng Lithium for the supply of a total 48,000 tons of lithium hydroxide, “enough to manufacture about one million batteries”.

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LG Chem powers battery supply with Nemaska Lithium deal

Thu, 07/12/2018 - 09:20 -- Xuan Zhong
LG Chem powers battery supply with Nemaska Lithium deal

South Korean battery firm LG Chem has signed an initial five-year deal for the supply of battery-grade lithium hydroxide from Canada’s Nemaska Lithium.

LG Chem will receive 7,000 tonnes of lithium hydroxide annually from October 2020, on a take-or-pay basis, to help fuel battery production.

 

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Seoul presses Beijing on ‘fair deal’ for battery makers

Wed, 05/30/2018 - 09:17 -- John Shepherd
Seoul presses Beijing on ‘fair deal’ for battery makers

South Korea has called on China to ensure “a fair business environment” for battery manufacturers to compete for business across the two countries. 

South Korea’s trade minister Paik Un-gyu (pictured) made the plea during a meeting with his Chinese counterpart Miao Wei in Seoul, the Yonhap news agency reported.

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Volkswagen ‘to buy EUR20bn of batteries from Asia’

Wed, 05/09/2018 - 09:51 -- Xuan Zhong
Volkswagen ‘to buy EUR20bn of batteries from Asia’

Volkswagen has reportedly earmarked EUR20 billion ($25bn) to buy in lithium batteries for its electric vehicle business from China’s CATL, South Korea’s LG Chem and Samsung SDI.

China’s state Xinhua News Agency said the move was agreed by VW at its annual general meeting in Berlin— although BBB could not independently confirm the report.

 

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Huayou partners with LG Chem as China-South Korea ‘battery wars’ thaw continues

Mon, 04/16/2018 - 10:19 -- Xuan Zhong
Huayou partners with LG Chem as China-South Korea ‘battery wars’ thaw continues

Another Chinese-South Korea investment deal has been done to produce lithium battery materials in China— in the latest sign of a thaw in economic tensions between the countries.

Chinese mining company Zhejiang Huayou Cobalt said its subsidiary, Huayou New Energy Technology, has signed a deal with South Korea’s LG Chem to launch two new joint venture companies at a total investment of some $645.6 million.

 

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LG Chem to design “unique” NMC battery for Mahindra

Mon, 03/12/2018 - 12:56 -- Xuan Zhong
LG Chem to design “unique” NMC battery for Mahindra

South Korean battery giant LG Chem is to work with Indian car multinational Mahindra & Mahindra to develop a “unique” NMC (nickel-manganese-cobalt) battery for electric vehicles made in India.

Under the partnership, LG Chem will design and supply its newly-developed NMC technology for the Mahindra and SsangYong series of EV— lithium-ion modules for Mahindra Electric’s vehicles— and create battery packs for the Mahindra group and other customers.

 

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Poland agrees ‘record’ grant for LG Chem battery project

Mon, 03/12/2018 - 12:19 -- John Shepherd
Poland agrees ‘record’ grant for LG Chem battery project

Poland is to ‘sweeten’ a deal with South Korea’s LG Chem to build a major batteries production plant in the country for electric vehicles— with a grant reportedly worth more than $70 million, BBB can reveal.

A spokesperson for Poland’s entrepreneurship and technology ministry told BBB a contract for the grant would be signed soon, but declined to say whether the cash had been part of the agreement, announced in 2016, for LG Chem to set up the plant.

 

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Wärtsilä adds to Massachusetts battery power target

Mon, 02/19/2018 - 12:03 -- John Shepherd
Wärtsilä adds to Massachusetts battery power target

A subsidiary of Finland’s Wärtsilä Corporation is to install an “advanced energy storage system” to support grid power delivery in the US state of Massachusetts.

US-based Greensmith Energy Storage Technology has been selected to provide the 1 MW/2MWh battery system, which uses LG Chem batteries and Sungrow inverters, to utility Origis Energy USA.

 

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Korea plea to China over battery subsidies

Mon, 02/12/2018 - 10:29 -- John Shepherd
Korea plea to China over battery subsidies

Seoul has confirmed it is in direct talks with China aimed at patching up a trade row that led Beijing to slap sanctions on the use of South Korean batteries.

As BBB reported last week, signs that the two countries were attempting to bury the batteries hatchet emerged as South Korean and Chinese firms formed two joint ventures to produce lithium-ion battery materials from bases in China.

 

 

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