LG Chem to produce new powerful EV battery
[THE INVESTOR] LG Chem said on Sept. 8 that it will produce an electric vehicle battery with extended driving range next year.
Earlier, SK Innovation, its local competitor, said it would produce a pouch-type NCM 811 battery starting next year as well, which will allow EVs to drive up to 500 kilometers.
“We will first produce the (NCM 811 battery), and you can see it next year,” Lee Ung-beom, president of LG Chem, told reporters.
The NCM 811 is named after three chemicals -- nickel, cobalt and manganese -- and their proportions in the battery.
LG Chem entered the EV battery business in 2009. The company has supplied batteries to global carmakers, such as Audi and Renault-Nissan. It currently operates EV battery plants in China, the United States and South Korea.
By Alex Lee and newswires (firstname.lastname@example.org)