LG Chem's plan to spin off its battery business was confirmed during a shareholder meeting in Yeouido, western Seoul, on Friday.
The U.S. International Trade Commission (ITC) once again delayed a final verdict in a dispute between LG Chem and SK Innovation, two of Korea’s largest electric vehicle (EV) battery makers.
LG Chem and SK Innovation — Korea's top two electric vehicle (EV) battery makers — appear unlikely to produce a breakthrough in their high-stakes trade secret case over EV batteries ahead of next week's final ruling in the United States.
Hyundai Motor Group and LG Chem will collaborate on a system to recycle used electric vehicle (EV) batteries under regulatory approval granted by the Ministry of Trade, Industry and Energy on Monday.
LG Chem reported a record performance for the third quarter, Monday. Quarterly revenue was 7.5 trillion won ($6.5 billion), up 8.8 percent on year. Operating profit was 902.1 billion won, a 158.7 percent increase.
A Hyundai Kona electric vehicle (EV) burst into flames in the early hours of Sunday morning while parked in the underground parking lot of an apartment in Daegu, the 12th such incident since the model's launch in 2018.
The legal battle between Korean battery makers has reignited after an investigative organization within the U.S. International Trade Commission (ITC) on Friday indicated it was supporting LG Chem over SK Innovation in an ongoing patent lawsuit.
The year-long battery brawl between LG Chem and SK Innovation is coming to an end in two weeks, but the two battery makers still seem to be a long way from making amends.
Tesla founder and CEO Elon Musk said the electric vehicle (EV) maker plans to increase battery cell purchases from current suppliers including LG Chem in a tweet on Tuesday.
A public offering for LG Chem’s battery subsidiary is at least a year away and won’t affect the petrochemical company’s controlling stake, LG Chem CFO Cha Dong-seok said Thursday.