Korea Joongang Daily
Korea JoongAng Daily

Samsung SDI CEO emphasizes 'pessimistic optimism' for company amid EV demand slowdown

Samsung SDI CEO Choi Joo-sun underscored the importance of technology and described the year as a turning point for renewed growth in his New Year’s message for 2026, even as battery makers face a challenging period amid a slowdown in EV demand.

2026-01-02

How EU’s shift on EVs gives Hyundai room to maneuver

Hyundai Motor and Kia stand to benefit handsomely in Europe, thanks to their core competency in hybrid powertrains, as the European Union (EU) rolls back its 2035 plan to end combustion-engine cars, with hybrids retaining enduring favor.

2025-12-31

Exodus of U.S. clients pushes Korean battery makers to the brink

Korean battery manufacturers find themselves at a critical crossroads, as global clients — reeling from a prolonged slump in global EV demand — have walked away from previously pledged multi-billion-dollar contracts.

2025-12-27

LG Energy Solution agrees to cancel $2.7 billion battery deal with U.S. firm

Korean battery maker LG Energy Solution has agreed with a U.S. company to terminate a supply contract signed in 2024 by mutual consent, the Korean company said Friday.

2025-12-26

Is Ford’s pullback from LG Energy a warning shot for Korean battery makers?

The fallout from Ford Motor’s decision to terminate a $6.5 billion supply contract with LG Energy Solution has sent shock waves through Korea’s battery industry, stoking fears of broader contagion.

2025-12-18

Ford cancels $6.5 billion EV battery supply deal with LG Energy Solution

LG Energy Solution Ltd. said Wednesday it has been notified of the cancellation of a 9.6 trillion-won ($6.5 billion) battery supply order from Ford Motor Co. signed last year.

2025-12-17

LG Energy Solution inks 2 trillion won supply deal with Mercedes-Benz

Korean battery maker LG Energy Solution said Monday it has signed a battery supply deal worth 2.06 trillion won ($1.39 billion) with Mercedes-Benz AG.

2025-12-08

LG Energy to mass-produce LFP batteries for ESS in Korea

LG Energy Solution plans to begin mass-producing lithium iron phosphate batteries for energy storage systems in Korea in 2027, building new production lines at its Ochang Energy Plant in North Chungcheong by the end of this year.

2025-11-17

Mercedes plans 40 new models in Korea by 2027 as CEO seeks closer ties with Samsung, LG

Mercedes-Benz plans to roll out at least 40 new models in Korea by 2027, the brand's most expansive product road map as the premium German automaker deepens its ties with Korean component suppliers such as Samsung and LG.

2025-11-14

LG Energy's software that doubles battery life to receive CES Innovation Award

LG Energy Solution on Thursday said its proprietary software designed to more than double battery life has been recognized as an Innovation Award honoree for CES 2026.

2025-11-06