[News Focus] LG Chem, GM deal ups ante in EV battery competition
Dec 8, 2019
The Friday announcement for a joint venture between South Korean battery maker LG Chem and US carmaker General Motors has upped the ante in the global competition to secure lithium-ion batteries for electric vehicles, according to industry sources on Sunday. The 2.7 trillion won ($2.3 billion) joint venture for an EV battery factory with production capacity of over 30 gigawatt hours per year in Lordstown, Ohio, was clinched amid GM’s ongoing transition from combustion engine cars to electr