LG Chem to invest $419 million by 2025 in cathode material plant for batteries


FILE PHOTO: The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea's LG Chem Ltd said on Tuesday it plans to invest about 500 billion won ($418.52 million) by 2025 to build a cathode material production plant for batteries in Gumi, South Korea.

The plant will help LG Chem secure cathode material production capacity of 60,000 tonnes per year, and is expected to be one of the largest cathode material plants in the world when completed, LG Chem said in a statement.

($1 = 1,194.6800 won)

(Reporting by Joyce Lee; Editing by Christopher Cushing)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

US funds software for Russians to slip past censors
Elon Musk breaks Twitter silence with photo with Pope
SG cops warn of new phishing scam involving email about purported traffic offence
EV demand is so hot that Tesla owners are flipping their cars like houses
Opinion: Is it fair to capture a couple's PDA on mobile camera?
Searches for 'abortion pills' are spiking in the US. Here's how Google could use your search history against you
Deadly abortion misinformation rings alarm bells for doctors, TikTok
Man accused of buying 39 Teslas via US$45 million scam with apparent false ties to Elon Musk
Dutch uni gets cyber ransom money back – with interest
Google to delete user data on trips to abortion clinics

Others Also Read