Breaking News

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA MSI Unveils MAG 272QP QD-OLED X50 Monitor Sony completes its INZONE gaming gear range with new headsets and more GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

LG Chem to Spend $1.07 billion on Battery Plant Expansion in China

LG Chem to Spend $1.07 billion on Battery Plant Expansion in China

Enterprise & IT Jan 10,2019 0

South Korea’s LG Chem said on Thursday that it plans to invest a total of 1.2 trillion won ($1.07 billion) to expand its two battery plants in China by 2020 in a bid to meet rising global demand.

Under the investment plan, LG Chem will spend 600 billion won each at an electric vehicle battery plant and a small-sized battery plant in Nanjing, the company said. Half of the fresh investment goes to an automotive battery factory, with the rest devoted to a plant for smartphone and personal computer batteries. Nanjing approved the project on Wednesday.

The move comes as the South Korean company struggles to break into China's market for electric-vehicle batteries owing to policies that favor domestic suppliers.

Last year, the South Korean battery maker announced a plan to invest about 2 trillion won to build a second electric car battery plant by 2023 in Nanjing.

SK Innovation also looks to begin construction of a U.S. battery plant soon.

Tags: LG Chemelectric vehicle batteries
Previous Post
PLEXTOR Debuts New Consumer SSDs at CES 2019
Next Post
AMD's Su Says Real-Time Ray tracing is Coming

Related Posts

  • Tesla Develops New Low-cost, Long-life Battery for Electric Cars: report

  • Samsung Presents All-Solid-State Battery Technology

  • Investigators Blame Faulty batteries for ESS Fires in South Korea

  • Toyota and Panasonic to Establish Joint Venture Specializing in Automotive Prismatic Batteries

  • Tesla Adds LG Chem, CATL to List of Battery Suppliers

  • EV Battery Makers Strike Deals With Automakers

  • Samsung SDI Signs Battery Deal With BMW

  • Chinese BYD, Toyota to Establish Joint Company for Battery Electric Vehicle Research and Development

Latest News

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point
Enterprise & IT

EnGenius Brings Wi-Fi 7 to Small Businesses with Affordable ECW510 Access Point

DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA
Drones

DJI to Showcase New Mic 3 and Full Product Portfolio at Berlin’s IFA

MSI Unveils MAG 272QP QD-OLED X50 Monitor
Consumer Electronics

MSI Unveils MAG 272QP QD-OLED X50 Monitor

Sony completes its INZONE gaming gear range with new headsets and more
Consumer Electronics

Sony completes its INZONE gaming gear range with new headsets and more

GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P
Consumer Electronics

GIGABYTE Announces Availability of 27” QD-OLED Gaming Monitor AORUS FO27Q5P

Popular Reviews

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Terramaster F8-SSD

Terramaster F8-SSD

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed