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Industry

Ecopro BM begins Hungary plant line conversion

Ecopro BM has begun work to convert an existing NCA production line at its Hungary plant into a line that can also produce NCM, it said on Sunday. The move aims to supply high-nickel cathode materials for premium electric vehicles in Europe from the fourth quarter of next year. The conversion is expected to cost about 40 billion won. The Hungary plant began commercial operations in the first half of this year and is running at 54,000 tons of annual capacity.

Industry

LG Energy Solution starts full operations at Lansing plant making ESS and EV batteries

LG Energy Solution is stepping up local production in the North American battery market by launching full operations at its Lansing plant in Michigan. The company held an opening ceremony on Aug. 19 attended by Governor Gretchen Whitmer, U.S. Interior Secretary Doug Burgum and CEO Kim Dong-myung (김동명). The plant will produce LFP batteries for energy storage systems and NCM batteries for electric vehicles, with annual capacity of more than 35 GWh.

Industry

L&F Q2 operating profit 20.8 billion won, returns to profit from year ago

L&F posted second-quarter revenue of 885 billion won and operating profit of 20.8 billion won, returning to profit from a year earlier, it said on Wednesday. Revenue rose 70.2 percent from a year earlier and 19.7 percent from the previous quarter, supported by record shipments and higher cathode material prices. Operating profit fell 82.2 percent from the prior quarter due to start-up costs, inventory valuation losses and other one-off factors.