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LG Chem: New capital injection speeds up expansion

Large  Small Date:2019-12-10  From:ICC
Note: LG chem has obtained 6 trillion won ($ 5 billion) from financial institutions in investment funds for LG Chem's overseas investment in batteries. LG Chem plans to focus on the battery market and expects a quantum leap from next year.


 
In the subsidy list of the Ministry of Industry and Information Technology of China, Companies on the recommended list can receive subsidies from the Chinese government, and these vehicles will be equipped with Korean battery companies, including LG Chem and SK Innovation batteries. Tesla Model 3 was included as well.

According to the latest information, LG chem has obtained  6 trillion won ($ 5 billion) from financial institutions in investment funds for LG Chem's overseas investment in batteries. LG Chem plans to focus on the battery market and expects a quantum leap from next year.

 
In addition, LG Chem has accelerated the layout of high-nickel products. LG chem has formally ordered a bulk purchase order of high-nickel ternary precursor products from GEM. ICCSINO believes LG chem is to meet Tesla's demand for batteries and is more in line with EV batteries trend in the future.
 

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