Tag: LG Chem
GM says it will seek reimbursement from LG Chem for $1B Chevy Bolt recall losses
American automaker General Motors expanded its recall of Chevrolet Bolt electric vehicles on Friday due to fire risks from battery manufacturing defects. The automaker said it would seek reimbursement from LG Chem, its battery cell manufacturing partner, for what it expects to be $1 billion worth of losses. Following the…
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LG Energy Solution inks deal with Australian mining company for nickel and cobalt
South Korea’s LG Energy Solution has entered into a six-year agreement with an Australian mining company for cobalt and nickel, securing a stable supply of key minerals to make electric vehicle batteries. LG Energy, a subsidiary of LG Chem, will purchase 71,000 dry metric tons of nickel and 7,000 dry…
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Automakers have battery anxiety, so they’re taking control of the supply
‘The batteries don’t show up, you’re bankrupt, you’re dead’ Rebecca Bellan 7 hours Battery joint ventures have become the hot must-have deal for automakers that have set ambitious targets to deliver millions of electric vehicles in the next few years. It’s no longer just about securing a supply of cells.…
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LG Chem will invest $5.2B in battery materials through 2025
South Korea’s LG Chem has earmarked ₩6 trillion ($5.2 billion) over the next four years to build out its battery materials business. The investment comes as automakers and state regulators set targets to transition away from internal combustion engine vehicles, in a shift that will likely be the most transformative…
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GM and Honda are co-developing two new electric vehicles due to arrive in 2024
GM and Honda will jointly develop two new electric vehicles slated for 2024, the latest move by the two automakers to deepen their existing partnership. Under the plan, the automakers will focus on their respective areas of expertise. Honda will design the exterior and interiors of the new electric vehicles;…
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GM reveals ‘Ultium,’ the heart of its EV strategy
GM revealed Wednesday a new electric architecture that will be the foundation of the automaker’s future EV plans and support a wide range of products across its brands, including compact cars, work trucks, large premium SUVs, performance vehicles and a new Bolt EUV crossover that will come to market next…
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