SEOUL (Reuters) – South Korean battery maker LG Chem Ltd said on Thursday it had signed an agreement to set up a joint venture with China’s Geely Automobile Holdings Ltd to produce batteries for electric vehicles.
The joint venture would have annual production capacity of 10 GWh by the end of 2021, and its products would be supplied to Geely’s electric vehicles from 2022, LG Chem said in a statement.
Parties - Venture - LG - Chem - Statement
The two parties would invest $94 million each in the venture, LG Chem said in a statement.
Vehicles equipped with South Korean batteries...
Wake Up To Breaking News!