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LG India EV Strategy | LG Chem Plans for E-Mobility – EV Next


by Narasimhan Santhanam

LG Chem Plans for E-Mobility – EV Next

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This posevnext-logo-v-smallt is a part of EV Next’s EV Perspectives.

EV Nexta division of EAI, is a leading market intelligence & strategic consulting firm for the Indian e-mobility sector.


 

Introduction

The company manufactures different cells, modules and battery packs for various types of EVs( PHEV, HEV, BEV) of various sizes and chemistries. LG Chem is the only battery company rooted in the chemical business and is capable of mass-producing high-performance batteries stably.

Company Profile

LG Chem, Ltd. is Korea’s largest diversified chemical company which operates four main business units: Basic Materials and Chemicals, Energy Solutions, IT and Electronic Materials and Life Sciences. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as rechargeable batteries, electronic materials and drugs and vaccines. LG Chem is also one of the world’s largest lithium-ion battery manufacturers with significant market share in consumer, automotive and stationary applications. Throughout multiple production facilities and an extensive distribution network, LG Chem strives to become a leading global company. 

Product Profile

LG Chem in partnership with Mahindra is setting up a Li-ion batteries manufacturing plant in Pune.

Future Plans

  • The company will develop Li-ion battery modules in the JV with Mahindra and thereby supply them to the OEM and others and export the excess.

Partnerships

  • Mahindra and LG Chem collaborate for Li-ion battery technology in February 2018.
  • Under the aegis of this collaboration, LG Chem will develop a unique cell exclusively for India application and will also supply Li-ion cells based on NMC (nickel-manganese-cobalt) chemistry with high energy density. These cells will be deployed in the Mahindra and SsangYong range of Electric Vehicles.

Global Work

  • General Motors and LG Chem will invest up to $2.3 billion by 2023 to form a joint venture for production of battery cells for electric vehicles in Ohio. Construction of the plant is expected to begin in mid-2020. The total capacity would be 30+ GWh.
  • The company said it plans to invest 13 trillion won ($11bn) in its energy solutions unit, including W10 trillion in its EV battery segment, over the next four years. The unit is taking up half of LG Chem’s overall W6.2 trillion capital budget in 2019, even though it accounted for just 22pc of revenue last year.
  • Lucid Motors, a luxury electric car manufacturer in the US announced a long-term partnership from 2020 to 2023 with leading EV battery supplier LG Chem for the Lucid Air electric sedan in February 2020.

Read EV Next posts on the India electric vehicle strategy for these companies: ABB | ACME | Altigreen Propulsion | Amara Raja | Ashok Leyland | Ather Energy | Audi | Bajaj | BASF | Bharat Forge | Black & Veatch | BMW | Bosch | Continental AG | Denso | Exide | Exicom | Ford | Fortum | General Motors | Great Wall MotorsGreaves | Hella | Hero Electric | Honda | Hyundai | JBM | Kia | Kinetic Green | Mahindra Electric | MG Motors | Nissan | Ola | Olectra | Panasonic | Piaggio | Porsche | Renault | Samsung SDI | Schneider Electric | Sun Mobility | Tata Autocomp | Tata Motors | Tata Power | Toyota | TVS Motors | Uber | UL | Volvo |


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Know more on how EV Next can assist your business in your strategy for the e-mobility and electric vehicles sectors, Here

Wish to know everything about India’s EV market from one place? Check out the India EV Expert Guide, an 800 page comprehensive guide to the Indian EV marketHere



Categories: E-mobility, Electric Vehicles, EV Batteries Strategy, Indian E-mobility Strategy

Author - Narasimhan Santhanam


Thank you for reading this post – hope it was helpful. You can connect with me at narsi@eai.in. My detailed profile here and my LinkedIn profile here

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About EAI & EV Next

EV Next, EAI's specialized consulting division, provides assistance in market research, strategy consulting, technology vendor/supplier finder assistance and more for the complete EV value chain - Li-ion & Lead Acid Battery Cells & Battery Packs, BMS, Battery Manufacturing equipment, EV charging station, battery swapping station, Li-ion & Lead Acid battery recycling, and for a range of electric vehicles - e-bikes, electric bicycles, electric scooters, electric motorbikes, electric autos, e-autos, e-rickshaws, electric trucks, electric LCVs, electric buses and more. Send a note to consult@eai.in if you wish to take EV Next assistance for the Indian electric vehicle market.



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