LG Chemical plans to launch single crystal cathode materials for electric vehicle batteries this year

February 3 news, according to foreign media reports, South Korean power battery company LG Chemical plans to launch single crystal cathode materials for electric vehicle batteries this year.

In addition, LG chemistry is also developing medium nickel cathodes that reduce both nickel and cobalt content.

LG Chemical is a South Korean power battery company that supplies electric vehicle batteries to 13 of the top 20 car brands, including Volkswagen, Renault, General Motors, Ford, Hyundai, Volvo, Audi, Daimler and so on.

In order to vigorously develop the battery business, seize the development opportunity of electric vehicle battery, and enhance the value of the company and its shareholders, LG Chemical spun off its battery business.

In mid-July 2022, the company announced that it would invest 10 trillion won (currently about 55 billion yuan, US $8.7 billion) by 2025 to expand its battery materials, renewable energy and biological businesses.