LG Chem is advancing the establishment of battery joint ventures with GM and other manufacturers

by:CTECHi     2021-08-30
According to reports, on Friday, Hak Cheol Shin, CEO of LG Chem, the world's electric car battery manufacturer, revealed that the company is negotiating with 'several' car manufacturers to establish a joint venture to produce electric car batteries. Xin Xuezhe revealed that LG Chem is advancing the establishment of battery joint ventures with General Motors and Geely Automobile, and hopes that other automakers will also join in, but he did not elaborate on which automakers are in dialogue. He said: “We have previously announced that we will establish joint ventures with Geely and GM. Currently, we are discussing with several other automakers.” The South Korean company LG Chem has a battery plant in Nanjing, China. Tesla's Shanghai factory supplies batteries, which are used in the domestically produced Model 3. Xin Xuezhe said: 'We have already begun to supply batteries for Tesla, and this is just the beginning of a good cooperation between the two parties. We hope to expand the partnership. We are negotiating with almost all automakers to expand cooperation, and Tesla is one of them. One of them.” But Xuezhe Xin added, “Tesla is not one of the companies negotiating the establishment of a joint venture with LG Chem.” He revealed that LG Chem is currently looking for a new battery factory site in Europe. The company Currently operating a factory in Poland.
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