RE: Lithium of concern15 Jul 2021 09:40
Yesterdays news for Lithium: The Li train is gaining momentum every day
Petrochemical producer, LG Chem, will invest 10 trillion won by 2025 to accelerate the “sustainable growth” of its battery materials operations, in a shift towards greener practices.
6 trillion won of the investment will go into expanding production lines of its battery materials and 3 trillion won will go into producing eco-friendly petrochemical products.
The private sector in South Korea has been rushing to announce massive investment plans to reduce their carbon footprint and foster sustainable growth. o SK Innovation Co. earlier this month said it will invest 30 trillion won through 2025 to strengthen its green business portfolio, mainly in battery and recycling plastic waste. o On Tuesday, Lotte Chemical Corp. said it will spend 4.4 trillion won through 2030 to increase hydrogen output.
Four of the world’s biggest battery suppliers, Panasonic, LG Energy Solutions, CATL, and Samsung SDI, have all announced plans to build the 4680 cells for Tesla – a report from The Korea Herald suggests that both LG and Samsung have completed the first sample cells.
Robert Friedland’s Ivanhoe Capital Acquisition, a special acquisition corporation (SPAC), to assist EV battery supplier SES list on NYSE. The combination will imply a $3.6bn pro forma equity value (including a $300m earn-out), with the company listing on the NYSE under the ticker SES. The goal is to offer SES’s advanced Li-Metal batteries increased opportunity for widespread commercialisation.