Tag: battery supply

LG Chem aims to quintuple EV battery biz by 2024

LG Chem will try to quintuple its electric vehicle battery business by 2024, the company’s CEO said on July 9. CEO Shin Hak-cheol said the company is targeting 59 trillion won ($49.9 billion) in sales by 2024, with 31 trillion won coming from its battery business. Last year, the company’s battery sector accounted for only…
Read more


26th July 2019 0

Japan’s Toray to manufacture battery components in Europe

Japanese materials company Toray has announced plans to open a facility for manufacturing battery separator films for use in lithium-ion batteries. The factory is expected to begin operations in July 2021 and will increase Toray’s production material for the component by around 20%. Toray Industries, Inc. has announced plans to open a new factory in…
Read more


17th July 2019 0

Volvo secures ‘multi-billion dollar battery supply deals’ to support its electric car plans

Volvo, both through Polestar and its own brand, plans to bring several new all-electric vehicles to market and in order to do that, it needs significant battery supply. The automaker now says that it has secured ‘multi-billion dollar battery supply deals’ with CATL and LG Chem. According to a press release issued earlier today, Volvo…
Read more


17th May 2019 0