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Energy Storage

LG Chem makes first investment in domestic battery materials plant

by Matt Blois
April 22, 2023 | A version of this story appeared in Volume 101, Issue 13
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LG Chem and Huayou Cobalt are forming a joint venture to build a $900 million plant that will produce precursors for battery cathodes composed of nickel, cobalt, and manganese. The plant, located 230 km southwest of Seoul, South Korea, is expected to produce 50,000 metric tons (t) of material by 2026 and later ramp up to 100,000 t, enough for 1 million electric vehicles. The new plant will be five times as large as LG’s existing precursor plant in Korea.

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