LG Chem to invest $5.3 billion in battery materials by 2025, aims to rule anode market

LG Chem plans to invest 6 trillion South Korean won ($5.3 billion) in battery materials by 2025, including efforts in anode materials, separation membranes, cathode binders, radiant adhesives and carbon nanotubes.

LG Chem’s goal is to grow into the world’s largest comprehensive battery materials company, and to become the world’s number-one supplier of anodes. A vast range of projects, including new plants, new alliances with other companies, and expanded R&D efforts, are on the table.

“Over 30 projects including [mergers and acquisitions], joint ventures, strategic investments, etc. to make a paradigm shift to an [Environmental, Social, and Corporate Governance]-based business portfolio are being reviewed,” said LG Chem CEO Hak Cheol Shin. “This will be the most revolutionary change since the establishment of the company that will upgrade the value and sustainability of LG Chem, and tangible achievements will become available from the second half of this year.”

Construction of LG’s new Gumi Plant, which will have an annual capacity of 60,000 tons of anodes, will begin in December. The company’s anode production capacity will increase almost sevenfold, from 40,000 tons in 2020 to 260,000 tons by 2026.

LG Chem will cooperate in various ways with companies possessing mining, smelting and refining technologies, in order to further secure its sources of metals. A joint venture is being prepared with an unnamed mining company for the stable supply of raw materials for anodes.

Will the game-changing Tesla Semi really go into production this year?

A viable electric Class 8 truck would be a massive disruptor of the global transport system, and since the unveiling of the Tesla Semi in 2017, we’ve been on the edge of our ergonomic bucket seats, waiting for it to appear on highways.

Alas, Tesla’s production schedule has suffered more delays than the LA Freeway. The company originally said the Semi would come to market in 2019, and numerous fleet operators placed orders. Later the production date was pushed back to 2020, then to 2021. Now it finally appears that things are starting to happen.

In March, Electrek reported that Tesla was building a production line at a new building near Gigafactory Nevada, which was expected to be producing five Tesla Semis per week by the end of this year. Now Electrek’s sources say that the drive axle production line is ready, and the general assembly line is going through final debugging—one of the last steps before starting production.

Tesla has indicated that at least a few Semis will be delivered to customers this year, and PepsiCo, which placed an order for 100 trucks shortly after the 2017 launch, said it expects to take delivery of 15 units by the end of the year. Tesla has said that it plans to use the first few Semis for its own operations.

Several manufacturers, including Volvo, Lion, BYD and Daimler, have electric Class 8 trucks on the road, at least in pilot operations, but none of them have anything like the specs that Tesla has promised.

At the launch, Tesla said the Semi will have a capacity of 80,000 pounds, a range of up to 500 miles, and a price tag of $150,000 to $180,000. If the company can deliver a truck in volume that offers anything like these figures, it could revolutionize the trucking industry, in which cost savings are measured in cents per mile.

EGEB: 3 ways clean energy is making US grids more resilient right now

In today’s Electrek Green Energy Brief (EGEB):

  • Here are 3 ways clean energy is boosting grid resilience right now in the face of extreme weather.
  • Massachusetts announces $1.6 million in grants to support offshore wind workforce training.
  • UnderstandSolar is a free service that links you to top-rated solar installers in your region for personalized solar estimates. Tesla now offers price matching, so it’s important to shop for the best quotes. Click here to learn more and get your quotes. — *ad.

more…

The post EGEB: 3 ways clean energy is making US grids more resilient right now appeared first on Electrek.


Source: Charge Forward

GM announces recall after a dozen Bolt EV Fires; 6 key questions we need answers to

GM has announced a recall after a dozen reported fires in a little more than a year, and at least two fires this month alone that had their “final” software fix in place. Here’s what you need to know, and the major questions that we are left with.

more…

The post GM announces recall after a dozen Bolt EV Fires; 6 key questions we need answers to appeared first on Electrek.


Source: Charge Forward