LG Chemical Invests in South Korean Cathode Material Plant, an Industrial Info Market Brief
LG Chemical Invests in South Korean Cathode Material Plant, an Industrial Info Market Brief
LG Chemical, which accounts for 16% of the global market share of lithium-ion batteries, plans to strengthen its self-procurement capabilities for anode and cathode materials. LG Chemical has imported 40% of the volume of cathode materials required for the production of lithium-ion batteries from Nichia Corporation of Japan, and most of the anode materials from Sumitomo Chemical. LG Chemical plans to invest approximately $420 million to build a cathode material plant in Gumi City, South Korea, to increase its cathode production capacity from 20% to 35%. In addition, LG Chemical is expected to increase the proportion of POSCO Chemical's anode materials.
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