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Inorganic Chemicals

LG invests in battery materials as Johnson Matthey plans exit

by Michael McCoy
January 13, 2022 | A version of this story appeared in Volume 100, Issue 2
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LG Chem has broken ground on a $420 million facility in Gumi, South Korea, that it says will be the world’s largest plant for cathode materials for electric vehicle batteries. The plant will have capacity to make 60,000 metric tons per year of a nickel, cobalt, manganese, aluminum material when it opens in 2025. Meanwhile, Johnson Matthey has been unable to sell its cathode materials business and says it will be shut down. The company is adding about $200 million to the $430 million it had estimated the exit would cost.

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