|Bid||673,000.00 x 0|
|Ask||674,000.00 x 0|
|Day's Range||662,000.00 - 676,000.00|
|52 Week Range||437,000.00 - 760,000.00|
|Beta (5Y Monthly)||1.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||10,000.00 (1.45%)|
|Ex-Dividend Date||Dec 28, 2022|
|1y Target Est||N/A|
LG Chem Ltd said on Tuesday it plans to invest more than $3 billion to build a battery cathode factory in Tennessee, as the South Korean chemical materials maker ramps up plans to meet rising demand for U.S. electric vehicle (EV) components. The plant aims to have an annual production capacity of 120,000 tonnes of cathode materials by 2027, enough to power about 1.2 million EVs, LG Chem said in a statement, adding mass production is set to start in the second half of 2025. "With our Tennessee cathode factory, LG Chem plans to actively respond to changes in the global battery material market, such as the Inflation Reduction Act (IRA)," the company said in a statement.
SEOUL (Reuters) -South Korea's LG Chem Ltd said on Tuesday it will invest more than $3 billion to build a battery cathode factory in Tennessee, as it ramps up plans to meet rising demand for U.S. electric vehicle components. It's one of the first major EV-related investments announced by a South Korean firm in the United States since a new U.S. law was passed in August that puts automakers and battery suppliers relying heavily on China for sourcing at a cost disadvantage. Mass production is set to start in the second half of 2025 and the plant will create more than 850 jobs, LG Chem said in a statement.
Tesla Inc supplier LG Energy Solution Ltd (LGES) upped revenue guidance by 14% on Wednesday in the year's second such change, after quarterly profit beat forecasts on strong demand from car makers and a weak local currency. That indicated tight battery supplies for the foreseeable future, as the auto industry races to turn out more environmentally-friendly electric vehicles (EVs). LGES shares jumped 3.3% after the results, beating a rise of 1% rise in the benchmark index.