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LG Chem to invest $419 million by 2025 in cathode material plant for batteries

LG Chem to invest $419 million by 2025 in cathode material plant for batteries
LG Chem to invest $419 million by 2025 in cathode material plant for batteries   -   Copyright  Thomson Reuters 2022
By Reuters

SEOUL – South Korea’s LG Chem Ltd said on Tuesday it plans to invest about 500 billion won ($418.52 million) by 2025 to build a cathode material production plant for batteries in Gumi, South Korea.

The plant will help LG Chem secure cathode material production capacity of 60,000 tonnes per year, and is expected to be one of the largest cathode material plants in the world when completed, LG Chem said in a statement.

($1 = 1,194.6800 won)