LG Chem signs an agreement to secure Li supplies for its EV batteries production

23 August 2019, 05:32:56

LG Chem signs an agreement to secure Li supplies for its EV batteries productionKorean news agency Yonhap reports that LG Chem has signed an agreement with one of the key Chinese producers of lithium to secure lithium hydroxide supplies for its EV batteries production. The information comes from "industry sources." The company in question is Tianqi Lithium Kwinana (TLK) Pty Ltd., in Australia, a subsidiary of the China-based Tianqi Lithium Corp. The latter is the world's third producer of the metal used in EV batteries. According to the agreement, TLK lithium hydroxide will be supplied to LG Chem from 2020 to 2022, with an option to extend this period by three years. The exact volume of the supply remains unknown. According to data from SNE Research, LG Chem was the world's fourth-largest shipper of EV batteries in H1 of 2019.

"Since our EV battery business is growing rapidly, we'll keep trying to secure raw materials for EV batteries," an LG Chem official said. "Lithium hydroxide is a key raw material, and it is important for us to diversify our import channels."Source

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EV Specifications

Complete specifications of EVs, grouped according to their brand and year

AudiBMWBytonChevrolete.GOFIATFordHondaHyundaiJaguarKIAMazdaMercedes-BenzMGMININIONissanOpelPeugeotPolestarPorscheRenaultRivianSEATŠKODAsmartTeslaVolkswagen

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Electric motor: 150 kW @ 3800 - 8000 rpm, 395 Nm, Location: Front
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2022 Tesla Cybertruck

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