On January 14, DIGITMES reported that South Korea's local battery manufacturer LG Energy Solution plans to establish a battery factory for electric vehicles in the United States in a strategic alliance with Japan's Honda Automobile, with the largest investment scale of 4 trillion won (about 3.36 billion US dollars) and an annual production capacity of 40GWh.
Since the beginning of this year, LG Energy has made frequent moves in the battery business.
A few days ago, the Financial Times reported that LG Energy Solution, the world's second-largest electric vehicle battery maker, is preparing for one of the largest IPOs in South Korean history, raising $11 billion to compete with Chinese competitors such as CATL for market dominance.
LG Energy, which is currently a battery supplier to car companies such as Tesla, Ford and Volkswagen, plans to use the funds raised from its initial public offering (IPO) to call CATL, the world's largest global battery group with a market capitalization of more than $196 billion.
LG Energy's successive active layout in the battery business, on the one hand, can foresee the huge demand for the electric vehicle market in the next few years, on the other hand, the competitive environment between industries has also intensified with the growth of demand; in the face of such a strong competitor as the Ningde era, in addition to the need to compete with it in terms of technology and production capacity, it is also inseparable from the confrontation of capital strength. (Proofreading | New)