Chat with us, powered by LiveChat
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTech Today - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Battery

LG Chem to Inject 65 Bln Won to Increase Carbon Nanotube Production

 260 total views,  1 views today

James Jung by James Jung
PUBLISHED: April 27, 2020 UPDATED: April 27, 2020
in Battery, LG Chem, South Korea, Tech Industry
0
LG Chem invests in carbon nanotube
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.

LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.

LG Chem said Monday that it would inject 65 billion won ($53 million) to boost its carbon nanotubes production manufacturing capability. The move came as the company sees more applications in global end-use industries such as electric vehicles, electronics, and polymers.

LG Chem said the decision to increase the company’s production capability would strengthen its global competitiveness. The company added that it would aggressively adopt the next-generation material in the production of lithium-ion batteries.

Carbon nanotubes (CNTs) are an effective buffering component that could improve the capacity and cyclability of lithium-ion batteries. Highly metallic carbon nanotubes could significantly improve electronic transport in anodes.

Global demand for the CNTs in the EV market is expected to grow with a 34 percent annual rate reaching 13,000 tons in 2024.

CNTs are allotropes of carbon with superior electrical, thermal, and mechanical properties than those of existing materials. CNTs’ are key material for the production of semiconductors, lithium-ion batteries, EV parts, aerospace parts, etc.

Growing Carbon Nanotube Market

LG Chem said it would direct the investment into its factory located at Yeosu in Jeolla Province. The company would increase the annual production of CNTs from 500 tons to 1,700 tons by March next year.

Global market research firm, Grand View Research, said that the global market for CNTs would reach 3.9 trillion won ($3.2 billion) by 2022 and would continue to increase steadily.

Currently, LG Chem operates five EV battery factories in South Korea, the United States, China, and Poland. All plants have a combined capacity of 70 gigawatt-hours.

The company supplies batteries to top car brands such as South Korea’s largest carmaker Hyundai Motor, German automaker Volkswagen, American auto giant General Motors, and French carmaker Renault.

LG Chem plans to expand sales to automotive OEMs and global IT materials companies in Europe, North America, and China.

LG Chem, in 2011, started its R&D to develop proprietary CNT technologies and, in 2013, constructed a 20-ton pilot mass production line. The company currently possesses over 250 patents in the CNT-related markets.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: 65 billion woncarbon nanotubeelectric vehicleInvestmentLG chemlithium-ion batteryManufacturingproduction

Related Posts

South Korea to unveil the prototype of the Korean Fighter eXperimental (KF-X), its first indigenously developed fighter jet in April. . photo courtesy of Korean Defense
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
South Korea

South Korea to Unveil Prototype of First Developed Fighter Jet KF-X

March 3, 2021
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Medical

US-Based NeoImmuneTech Targets 96 Billion Won IPO in KOSDAQ

February 27, 2021
Samsung Display CEO Choi Joo-sun (Samsung Display)
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Samsung

Samsung Display Boosts ESG-Centered Strategies with RBA Membership

February 23, 2021
South Korea targets to lower green car costs in collaboration with various industries and sectors for achieving the country’s 2050 carbon-neutrality goals .
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Automobile

South Korea Pushes Lower Green Car Costs for Carbon-Neutrality Goals

February 23, 2021
South Korea’s Ministry of Trade, Industry, and Energy partners with Hyundai, LG, KST, and Hyundai Glovis for eco-friendly EV battery leasing and reusing.
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Battery

South Korea Partners with Hyundai, LG, KST for EV Battery Reuse

February 20, 2021
South Korea’s procurement agency Defense Acquisition Program Administration (DAPA) said it would provide $3.9 billion for defense R&D projects this year.
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
South Korea

South Korea Pledged 4.3 Trillion Won for Defense R&D Projects This Year

February 19, 2021

FREE NEWSLETTER

  • NAVER

  • Kakao

  • Nexon

  • Netmarble

  • Ncsoft

  • Samsung

  • Hyundai

  • SK

  • LG

  • KT

Trending posts

  • Top 8 South Korean Mobile MMORPG to Watch Out For in 2021

     344 total views,  4 views today

  • Best Korean Dramas To Watch This 2021

     232 total views,  3 views today

  • South Korea Launches Low-Carbon Bullet Train KTX-Eum

     251 total views,  5 views today

  • Hyundai Motor in Negotiation with Apple for Apple Car Production

     258 total views,  3 views today

  • South Korea Ranks First Place Worldwide in Bloomberg Innovation Index

     118 total views,  3 views today

  • South Korea To Invest $5.3 Bln on Science, ICT R&D in 2021

     206 total views,  3 views today

  • SoCar, RideFlux to Test Run Driverless Shuttle Service in Jeju Island

     202 total views,  3 views today

  • Hyundai Stops Diesel Engine Development, Unveils IONIQ 5 Teaser Images

     216 total views,  3 views today

  • Hyundai Revises Statement on Involvement with Apple Car Production

     253 total views,  3 views today

  • Doosan Mobility Introduce Hydrogen Fuel Cell-Powered Firefighting Robots

     89 total views,  3 views today

More from our network


  • ktd

  • atd

  • itd

  • ktt

  • kgd

  • kpp

  • ktp

  • kpoppost

  • ustechtimes
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

No Result
View All Result
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2020 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy|Contact : [email protected] |

Get the latest from the biggest tech companies in Korea straight to your email. Subscribe now!