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LG Energy Solution wins ESS supply deal from US firm LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Friday its US unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor.  LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP over several years starting from 2026, the company said in a press release. The company didn't provide the exact timeframe for the deal, or its value, ...
LG Energy Solution wins ESS supply deal from US firm
LG Energy Solution wins ESS supply deal from US firm
Source: IANS
2024-12-20 10:10:27 am
Korean stock market declines over 1 pc on US monetary policy uncertainties Seoul shares fell more than 1 per cent on Friday amid concerns over a slower monetary easing cycle in the United States, along with the aftermath of President Yoon Suk Yeol's short-lived martial law declaration this month.  The Korean won also continued to hover around 1,450 won per U.S. dollar for two straight sessions, the lowest level in 15 years. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 31.78 points, or 1.3 per cent, to close at 2,404.15. It fell belo...
Korean stock market declines over 1 pc on US monetary policy uncertainties
Korean stock market declines over 1 pc on US monetary policy uncertainties
Source: IANS
2024-12-20 09:03:10 am
South Korean battery makers`global market share declines  Three South Korean electric vehicle battery makers saw their combined global market share fall from a year earlier in the first 10 months of 2024 amid robust growth of Chinese rivals, industry data showed on Monday.  The trio -- LG Energy Solution, SK On Co. and Samsung SDI Co. -- held a combined 20.2 percent of the global EV battery market in the January-October period, down 3.5 percentage points from a year earlier, according to the data from market researcher SNE Research. ...
South Korean battery makers`global market share declines
South Korean battery makers`global market share declines
Source: IANS
2024-12-09 10:13:01 am
LG Energy Solution, GM to jointly develop prismatic battery cells South Korean battery maker LG Energy Solution Ltd. (LGES) said on Tuesday it has signed a deal with General Motors to develop prismatic battery cells.  Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or "chemistries." Once developed, the prismatic battery cells will power GM's future electric vehicles (EVs), LGES said in a statement. Prismatic battery cells feature a flat, rectangular shape wit...
LG Energy Solution, GM to jointly develop prismatic battery cells
LG Energy Solution, GM to jointly develop prismatic battery cells
Source: IANS
2024-12-03 09:43:35 am
LG Energy to supply batteries for US-based Bear Robotics LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Monday it has signed an initial pact with US-based Bear Robotics to become its sole supplier of cylindrical batteries.  LGES signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company to supply its cylindrical battery cells for Bear Robotics' flagship robots, such as Servi Plus and Carti 100, from next year, the company said in a statemen...
LG Energy to supply batteries for US-based Bear Robotics
LG Energy to supply batteries for US-based Bear Robotics
Source: IANS
2024-11-18 09:58:41 am
LG Energy Solution secures 5-year deal to supply EV batteries to Rivian South Korea's leading battery maker LG Energy Solution (LGES) said on Friday it has clinched a deal to supply electric vehicle batteries to US automotive manufacturer Rivian.  Under the deal, LGES will provide Rivian with its advanced 4695 cylindrical batteries, totalling 67 gigawatt hours, for over five years, according to the company. The company did not disclose further detailed financial terms of the contract, reports Yonhap news agency. LGES said the batteries will be m...
LG Energy Solution secures 5-year deal to supply EV batteries to Rivian
LG Energy Solution secures 5-year deal to supply EV batteries to Rivian
Source: IANS
2024-11-08 10:46:40 am
Seoul shares down for 2nd day amid US election uncertainties South Korean stocks ended lower for the second day on Tuesday as investors treaded water ahead of the US presidential election. The local currency sharply lost ground against the US dollar.  The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.09 points, or 0.47 per cent, to close at 2,576.88. Trade volume was slim at 306.1 million shares worth 7.6 trillion won ($5.5 billion), with winners outpacing losers 514 to 356, reports Yonhap news agency. Individual investors p...
Seoul shares down for 2nd day amid US election uncertainties
Seoul shares down for 2nd day amid US election uncertainties
Source: IANS
2024-11-06 09:49:06 am
LG Energy wins deals to supply EV batteries for Ford LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Tuesday it has signed deals to supply batteries for Ford Motor’s commercial vehicles.  In two separate contracts, LGES will supply 34 GWh batteries to the US carmaker from 2026-30 and 75 Gwh batteries from 2027-32, the company said in a statement. LGES said it plans to produce the contracted batteries at its plant in Poland starting in 2026, reports Yonhap news agency, "The deals with Ford...
LG Energy wins deals to supply EV batteries for Ford
LG Energy wins deals to supply EV batteries for Ford
Source: IANS
2024-10-15 06:06:42 pm
LG Energy Solution`s operating profit plunges 58 pc as EV sales slip LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Monday its second-quarter operating profit plunged 58 per cent from a year earlier due to slowing sales of electric vehicles.  Operating profit for the three months ended in June is estimated to have plummeted to 195.3 billion won ($142 million) from 460.6 billion won in the same period of last year, LGES said in a statement. "Decreased lithium and other metal prices weighed on EV battery prices, a...
LG Energy Solution`s operating profit plunges 58 pc as EV sales slip
LG Energy Solution`s operating profit plunges 58 pc as EV sales slip
Source: IANS
2024-07-08 09:41:01 am
LG Energy Solution joins US firm for EV battery solutions LG Energy Solution Ltd. (LGES), South Korea's leading battery maker, said on Wednesday it has signed an initial pact with a US company to strengthen the competitiveness of its electric vehicle (EV) battery management solutions.  LGES has signed a memorandum of understanding (MOU) with Analog Devices, Inc. (ADI) to jointly develop a technology that could precisely measure the internal temperatures of EV battery cells, the company said in a statement. The existing battery managem...
LG Energy Solution joins US firm for EV battery solutions
LG Energy Solution joins US firm for EV battery solutions
Source: IANS
2024-06-05 10:13:28 am
LG Energy begins production at US battery cell plant LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Tuesday that its joint venture with General Motors began production at their second battery plant in the United States. The first round of battery cells produced at the plant have been delivered to GM for installation in the all-electric Cadillac Lyriq SUV and other upcoming electric vehicles of GM, LGES said in a statement. Ultium Cells LLC., the joint company set up between LGES and GM in 2019, began opera...
LG Energy begins production at US battery cell plant
LG Energy begins production at US battery cell plant
Source: IANS
2024-04-02 10:04:11 am
LG Energy plans to sell batteries to more EV car makers in India South Korea's LG Energy Solution, the biggest supplier of battery cells to electric scooter makers in India, plans to grow its presence in the country's passenger vehicle market, the company said in a statement on Thursday. LG Energy, which globally supplies batteries to car makers like Tesla and Hyundai, said it is "proactively seeking partnerships" with domestic EV makers as it looks to grow its business in one of the world's fastest-growing car markets. The company...
LG Energy plans to sell batteries to more EV car makers in India
LG Energy plans to sell batteries to more EV car makers in India
Source: Reuters
2024-02-08 12:58:47 pm
LG Energy Solution, Ford scrap plan to build EV battery plant LG Energy Solution Ltd (LGES), South Korea's top battery maker, said on Saturday its plan to build a battery plant in Turkey with Ford Motor has been scrapped as a Turkish partner revoked its participation in the project. In February, LG Energy Solution signed a non-binding agreement with Ford and Turkey's Koc Holding to push for a joint venture to build an EV battery in Baskent, a city near the Turkish capital of Ankara. But Koc decided to revoke its participation, citing its c...
LG Energy Solution, Ford scrap plan to build EV battery plant
LG Energy Solution, Ford scrap plan to build EV battery plant
Source: IANS
2023-11-11 10:02:45 am