LG Electronics said on Wednesday that it is expecting sales of 18.8 trillion won and operating income of 1.51 trillion won in the first quarter.This is an increase of 27.7% and 39.2%, respectively, from the same time period in 2020.They are the highest figures from the company for the first quarter

LG Electronics is planning to expand its battery separator coating business, TheElec has learned.The company’s Business Solution division is planning to expand researchers in the area. It will likely attempt to expand separator supply to sister company LG Energy Solution.It has previously used LG En

Around 280,000 units of electric vehicles are expected to have been sold in February this year, according to EV Volumes.This is an increase of 135% from a year prior. The firm said around 278,000 units of EV, which includes pure EV, plug-in hybrids and hydrogen fuel-cell cars, is expected to have be

Samsung SDI will be supplying the batteries for Galaxy Z Flip 2, TheElec has learned. It will be for the initial batches of the phone.The company had previous supplied batteries for Galaxy Fold, Galaxy Z Fold 2 and the original Galaxy Z Flip.Samsung SDI’s factory in Tianjin, China will be producing

Posco has received a direct cathode supply request from General Motors, The Elec learned on Thursday.The South Korean chemical company must build a cathode factory in US under the condition of the deal.Posco immediately went into internal review over the request. Company chairman Choi Jeong-woo and

SK IE Technology, the battery material subsidiary of SK Innovation, will spend 1.3 trillion won to build two more copper foil factories at its plant in Slaskie, Poland.The third and fourth factories will each add 430 million meter-square in annual production capacity.The combined annual production c

South Korean battery equipment maker Mplus said Thursday that it was expecting double digit growth in 2021.Mplus CEO Kim Jong-sung said the company strengthened its sales staff to win orders from new customers in Europe and was expecting noticeable results this year.Both sales and operating margin r

Kokam has placed orders for equipment that will be used in its new factory at Eumseong.The new factory is planned to have a production capacity of 2GWh per year, twenty times that of its factory at Nonsan. The company’s current capacity is 100MWh. The new factory is planned to go live within 2021. I

Last week, Asahi Kasei announced that it was planning to spend 30 billion yen to expand its annual battery separator production capacity by 350 million meter-square.The new factory will be built near its existing factory in Hyuga, Miyazaki, and go live in the first half of 2023. Combined, the Japane

Chinese battery maker Svolt has unveiled a pouch-type battery for the first time at China International Battery Fair 2021 held at Shenzhen.The battery will be made in collaboration with compatriot EVE Energy.More and more Chinese battery companies are strategically expanding their pouch-type battery

The global shortage in cylinder batteries is taking a serious term as multiple power tool companies, including Stanley, Bosch, and Makita, have sent multiple requests for batter supplies to LG Energy Solution and Samsung SDI, people familiar with the matter said on Friday.Some of the companies have

Volkswagen will procure pouch-type batteries from Chinese company A123.According to Chinese media Jiemian, A123, a part of China’s Wanxiang business group, was preparing to supply pouch-type batteries to the German automobile giant within the next two years. The batteries are expected to be applied

SK IE Technology was aiming to list on KOSPI in May, TheElec has learned.The material-making subsidiary of SK Innovation will likely list on the second week of May.It is aiming to pass the preliminary review this month.Company affiliate SK Bioscience is aiming to list on KOSPI on March 18.SK IE Tech

South Korean battery manufacturers are expanding their facilities in Europe as local automobile makers accelerating the launch of new electric vehicles.LG Energy Solution is placing orders for equipment to install on its third factory in Poland. The third factory will be built on land previously own

TSI has won a new order for mixing equipment from LG Energy Solution, TheElec has learned.The order is meaningful as the company usually supplies to Samsung SDI. It also supplied kits to Japan’s Panasonic and Saft, a subsidiary of France-based energy giant Total.TSI will be supplying its mixing equi

Up to 45% of batteries used for electric vehicles (EV) will be pouch-type batteries in 2025, according to market research firm EV Volumes.The global EV battery market will use 1,000GWh of batteries in 2025, and 450GWh of them will be pouch-type, the firm said.Tesla currently uses cylinder batteries

Samsung SDI was preparing to expand its cylinder battery production, TheElec has learned.Spending for the expansion will start in the second half of the year at the earliest.Its factories in Seremban, Malaysia and Cheonan, South Korea will be targets.Samsung SDI last invested in cylinder battery at

LG Energy Solution on Friday called for SK Innovation to reengage in the pair’s negotiation for a settlement after the US International Trade Commission ruled in favor of the former in their dispute over trade secret.On Thursday, ITC published a redacted version of its final judgment in the pair’s d

Hyundai Motor and LG Energy Resolution has reached an agreement on how to burden the cost for the recall of Kona EV, following a string of fire involving the car model.The pair announced on Thursday that they have reflected the cost to their earnings in 2020.Hyundai’s operating income for the whole

The lawsuit between TSI and Jeil Machine is expected to be prolonged after the latter appealed against a verdict in the district court, TheElec recently learned.The pair supply battery production equipment to Samsung SDI.In its appeal filings, Jeil said TSI must halt use and production of mixing equ