LG Chem: advances the development of joint battery companies with GM and other car manufacturers

Saturday, October 17, 2020, 15:10 GMT

News on October 17, according to foreign media reports, this Friday, Hak Cheol Shin, CEO of LG Chem, a global large electric car battery manufacturer, revealed that the company is negotiating with several automakers. Hope to establish a joint venture for the production of electric vehicle batteries.

Xin Xuezhe said that he is currently working with General Motors and Geely to promote the establishment of battery joint ventures, and expressed the hope that other automakers will also participate, but he did not specify which companies are involved. It only revealed that it has announced the establishment of joint ventures with GM and Geely, and is in dialogue with several other automakers.

LG Chem currently has a factory in Nanjing, which mainly supplies batteries for Tesla’s Shanghai factory. These accessories can be seen in the domestic version of Model 3.

Xin Xuezhe also said: “We have begun to supply Tesla. This is the beginning of a good partnership, and we hope to further expand cooperation. So we began to extend an olive branch to almost all car manufacturers, and Tesla is one of them. one.”

But he added that Tesla is not the company they negotiated for a joint venture.

In Europe, LG Chem also has factories in Poland, and they are currently looking for new locations in other parts of Europe.