Tag: electric vehicle battery business

Europe is beating the US in the battery race—with China’s help

The biggest reason we hear so much about electric cars is because of the falling costs of batteries. Lithium-ion batteries today cost less than one-fifth as they did in 2010. Within the next five years, some experts estimate that the total cost of owning an electric car—that is, upfront cost plus lifetime fuel cost—will be…
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2nd August 2019 0

Toyota, China’s CATL in partnership for new energy vehicle batteries

Toyota Motor Corp has agreed to partner with China’s Contemporary Amperex Technology Co Ltd (CATL) to supply and develop batteries for new energy vehicles. The Japanese automaker said on Wednesday that the firms had also started talks covering a range of areas including new technology development and the reuse and recycling of batteries. “To further…
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18th July 2019 0

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…
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12th July 2019 0