South Korean EV batteries manufacturers increase market share

Reuters cites two sources who shared that Volkswagen intends to buy 20% of Guoxuan High-tech Co. Ltd. - a Chinese manufacturer of EV batteries. This will happen in the coming weeks via a discounted private share placement. Reuters estimates that Volkswagen's 20% share will be worth around $560 million is based on the $2.8 billion market capitalization of Guoxuan. Thus it will become the second-largest stakeholder in...

17 January 2020

At the end of 2018, SK Innovation decided to build a 9.8GWh/year EV battery plant in Commerce, Jackson County, Georgia. After the groundbreaking ceremony in March last year, the plant, which is under construction will be completed in the second half of 2021 and will be ready for mass deliveries in early 2022. Due to the rapidly growing US market, SK Innovation is considering to expand its investment in stages. The...

16 January 2020

In early December 2019, LG Chem and General Motors announced their plans to build an EV battery plant in the Lordstown area of Northeast Ohio. Now various Detroit media report that General Motors is in the process of purchasing a plot of land. The company has said that has made an agreement to purchase a 158-acre plot in Trumbull County. Actually, it used to own it but had to give it up after its 2009 bankruptcy...

16 January 2020

According to industry insiders, LG Chem will source winding and stacking process equipment from Lead China for its Nanjing battery plant. These are used for cylindrical and pouch type battery production lines. The deal has been confirmed by both companies. Winding equipment is used to roll up cathode materials, separators, etc. in what is called a jelly roll. The jelly roll is put into a metal cylindrical case to...

4 January 2020

BYD has teased the design of its upcoming BYD Han. The vehicle will have a pure electric and an ICE version. It will be the new flagship sedan from the brand. The pure-electric BYD Han EV is expected to have a 500 km of range (NEDC) and its design will be based on the latest e-SEED GT design. The flat and narrow light group is matched with the three-stage air intake below and the slightly shovel-shaped front lip to...

2 January 2020

SK Innovation will participate in CES 2020, the world's largest consumer electronics and IT exhibition, which will be held in Las Vegas, USA from January 7 to 10. Its booth is designed under the SK Inside which refers to gathering core technologies of future mobility innovation at CES 2020. Following the automotive vision of the future, Sk Innovation will showcase battery cells, technologies and related products...

2 January 2020

SK Group including SK Innovation, SK Telecom, SK Hynix, SKC, will showcase innovative technologies that will shape the future of mobility at CES 2020, the world's largest consumer electronics and IT fair, which will be held in Las Vegas, the USA on January 7-10. The joint booth installation is 8 times larger than that of the group in the 2019 CES. SK Innovation, the only South Korean energy and chemical company to...

30 December 2019

OptimumNano Energy has filed for bankruptcy and liquidation with a court in Shenzen. This is the company that first commercialized EV batteries with a 26.6% market share in 2015. Until 2017, it was the third-largest EV battery supplier in China but it could not solve its debt problems. Market analysts see in the event a sign for future restructuring of the Chinese battery market. The Chinese government has been...

27 December 2019

It's official: General Motors has officially confirmed its plans to make a joint venture with LG Chem for building an EV battery plant in Ohio. The two companies will invest a total of US$2.3 billion in the 50:50 joint venture. The site will be in the Lordstown area of Northeast Ohio and when fully operational, the plant will create more than 1,100 new jobs. LG Chem will not only benefit from access to experienced...

5 December 2019

SK Innovation has confirmed that its first EV battery plant in China is completed. A completion ceremony was held in Changzhou in the eastern Chinese province of Jiangsu and was attended by SK Innovation's and Beijing Automotive Group and Beijing Electronics executives and more than 500 guests. SK Inno holds 49% stake in the plant, dubbed BEST, and the rest is owned by the Beijing Automotive Group and Beijing...

5 December 2019

According to Reuters, LG Chem and General Motors have agreed to build an EV battery manufacturing joint venture in the United States. The two sides will participate equally in the new company which will be set up in Ohio and will get more than US$2 billion from LG Chem and GM. LG Chem declined to comment on the matter, saying it can't confirm a deal with its customers. So far, it has supplied batteries for GM's...

5 December 2019

SK Innovation signed a contract with Glencore of Switzerland, the world's No. 1 cobalt producer, to purchase about 30,000 tons of cobalt for the period from 2020 to 2025. This is enough to produce batteries for about 3 million pure electric vehicles. As SK Innovation secured core raw materials, it has laid the foundation to meet growing battery demand. The industry predicts that the global EV battery market will...

4 December 2019

South Korean media report that SK Innovation is aiming to diversify the supply of battery notching equipment. Ultimately, this will help the company to ensure stable long-term production of EV batteries from its facilities in China, Hungary, South Korea and the US. According to Elec's sources, SK Innovation is in talks with Mplus which is already supplying battery tab welding and packaging equipment to its Seosan...

3 December 2019

BMW South Korea announced that BMA and Samsung SDI have concluded an EV battery supply deal worth 2.9 bln-euro. The agreement was signed by BMW's chief purchasing officer, Andreas Wendt. It encompasses a period of 10 years (from 2021 to 2031) during which BMW will buy batteries for EVs from Samsung SDI. The latter is already the main supplier of batteries for BMW but this deal just makes their relationship more...

21 November 2019