LG Electronics Canada has announced its foray into the electric vehicle (EV) charging solutions sector in Canada. This strategic move introduces charge point operators and commercial property owners to a new range of products within the burgeoning Canadian EV market. The initiative begins with the introduction of advanced Level 2 chargers, produced in LG’s recently […]
LG Electronics has launched its first electric vehicle (EV) charger production facility in the United States, marking a significant expansion in its EV charging solutions infrastructure. The new factory, spanning 5,500 square meters, is strategically located in Fort Worth, Texas, and aims to produce over 10,000 units annually for the North American market. This facility […]
LG Energy Solution is planning to invest 730 billion won ($568 million USD) to expand its Ochang, South Korea production facility, according to Reuters. The company will use the funding to add 9 gigawatt-hours of production capacity, primarily to produce increased levels of Tesla’s next-generation 4680 battery cells, with 580 billion won ($449.8 million USD) […]
According to Reuters, South Korea’s LG Energy Solution reportedly is planning a new electric vehicle battery factory in Arizona, to supply customers such as Tesla and others, cite two unnamed sources. The battery factory would create cylindrical battery cells for EV customers such as Tesla, Lucid, Proterra and also Philip Morris for its heated tobacco […]
Tesla has deployed orders for camera modules, with companies like LG, Samsung and others still participating in a bid for future orders, according to The Elec. The camera modules will be manufactured for Tesla’s Model S, 3, X and Y units, with specific orders also going out to build cameras for the upcoming Tesla Semi […]
General Motors (GM) said on Tuesday it will be reimbursed for costs associated with recalling every Chevy Bolt ever made over fire risks – offsetting billions of dollars in losses. LG Electronics has agreed to reimburse GM for recall costs on the Chevy Bolt EV, according to a press release shared on Tuesday. The agreement […]
LG Electronics Inc. is now developing some of its car component business plans into a joint venture with Canadian company, Magna International, as reported by Yahoo Finance. According to an exchange filing, Magna will buy a 49% stake in LG’s new car component unit for 501.6 billion won ($453 million USD). The new company is […]
According to Reuters, LG Chem Ltd, one of Tesla’s primary battery suppliers, said Monday that its Q3 profits were most likely at a record high. LG Chem estimated an opening profit jump of 159% to $788.94 billion (USD), compared to an analyst estimation of 746 billion (USD), stated prior by Refinitiv SmartEstimate. The news of […]
In a new potential partnership, Tesla is, once again, showing its reliance on other companies for its battery supply needs. According to the Korea Times, Tesla is hoping to acquire stake in LG Energy Solution – as they separate from LG Chem – in order to bolster its supply of batteries. The news comes to […]
