SEOUL/WASHINGTON (Reuters) - South Korea's LG Chem said on Thursday it would invest $916 million in its U.S. subsidiary by 2023 to set up an electric vehicle battery joint venture with General Motors . An LG Chem spokesman confirmed an earlier Reuters report on the joint venture, but declined to give details. One source familiar with the matter told Reuters earlier that the facility, expected to be located in the Lordstown area of Ohio, would see investment of more than $2 bi
In 2018, South Korea's SK Innovation beat its larger, local rival LG Chem to a multibillion dollar deal to supply German carmaker Volkswagen with electric vehicle batteries in the United States. With great fanfare, SK Innovation (SKI) broke ground in March on a $1.7 billion (£1.3 billion) factory in Commerce, Georgia, about 200 km from VW's Chattanooga plant, which will be the automaker's electric vehicle hub in the United States. LG Chem (LGC) had other ideas.
SEOUL/DETROIT (Reuters) - South Korean electric vehicle (EV) battery maker LG Chem is considering building a second U.S. factory, three people familiar with the matter said, accelerating a race to add capacity to meet growing global demand for green vehicles. LG Chem, one of the leading EV battery makers in the world that counts General Motors and Volkswagen among its customers, is weighing investing about 2 trillion won ($1.70 billion) in the plant that could begin production in 2022, one of t
Volvo plans to get half its sales from fully electric cars by 2025.
Another snag: LG Chem wants to hike its battery prices 10 percent.
So, what happens now?
"General Motors believes in an all-electric future."
Will 'LG Chem inside' be the calling card of this early EV era?
South Korea-based LG preps to make about a dozen parts for the Chevrolet Bolt electric vehicles.
Tesla is reportedly in talks to widen its supply chain for lithium-ion batteries. Those 500,000 EVs won't build themselves in 2018.
With more details about the Bolt EV revealed today in Detroit, we can see just how fast plug-in vehicle technology is improving at GM.
Rather than its usual partnership with Panasonic, Tesla is using cells from LG Chem for the upgrades to the Roadster's battery pack.
GM engineers say that the evolving relationship with LG Chem is what's going to make the upcoming Bolt EV possible.
Panasonic currently holds the highest market share in the EV battery industry, but LG Chem is rapidly making deals with automakers that could soon give it that crown.
Audi's fully electric SUV with a range of over 311-miles will have battery cells sourced from LG Chem and Samsung SDI. The suppliers will invest in Europe to make the components for the vehicle there.
LG Chem holds job fair to double workforce at electric vehicle battery factory in Michigan.
The Michigan battery plant known for paying its workers to do nothing has turned things around and is now hiring more workers, specifically to do something. South Korea-based LG Chem, which runs the factory to supply the Chevrolet Volt extended-range plug-in vehicle with its lithium-ion batteries, held a job fair recently to bri
Formula E has revealed the circuit layout for the Buenos Aires ePrix, which will take place on January 10, 2015. The 1.5-mile track designed by Santiago Garcia Remohi features 12 turns of varying speeds. Bruno Senna, driver for Mahindra Racing, says, "Looking at the track, you have to say it's got a good combination of corners. There's a chicane, some high-speed turns with a change of direction and slow-speed as well." The th