-(4)Can LG Energy once again reach the top of the battery industry after advancing its IPO as promised with a $10 billion increase?

(4)Can LG Energy once again reach the top of the battery industry after advancing its IPO as promised with a $10 billion increase?
author:enerbyte source:本站 click420 Release date: 2023-07-26 09:18:21
abstract:
On July 22, Tinci Materials announced that its wholly-owned subsidiary Jiujiang Tianci High tech Materials Co., Ltd. and LG New Energy signed an agreement that LG New Energy would purchase 55000 tons of electrolyte products from Jiujiang Tianci from the second half of 2021 to the end of 2023....

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On July 22, Tinci Materials announced that its wholly-owned subsidiary Jiujiang Tianci High tech Materials Co., Ltd. and LG New Energy signed an agreement that LG New Energy would purchase 55000 tons of electrolyte products from Jiujiang Tianci from the second half of 2021 to the end of 2023. If the average production of 1GWh battery requires 1000 tons of electrolyte, LG New Energy's purchase agreement with Tinci Materials is expected to meet the production of 55GWh battery.

Also in July, LG New Energy signed a Lithium hydroxide supply agreement with Australian miners for at least five years. According to the agreement between the two parties, LG Energy will purchase 5000 tons of battery grade Lithium hydroxide in the first year of the transaction and 10000 tons annually thereafter.

At the end of last year, LG New Energy also invested an additional $500 million in the Nanjing production base to expand the production of cylindrical batteries.

Relevant people of CATL admitted in an interview earlier that LG New Energy will be the most important competitor of CATL in the future. At present, various signs indicate that both companies are in the process of comprehensive upgrading.

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