LG Chem apunta a obtener ingresos totales de 2.000 millones de wones de su negocio de baterías en el año 2015, o un 20 por ciento de participación en un mercado mundial que se calcula en 10.000 millones de wones, agregó la empresa en un comunicado.
LG Chem invests in car battery plant
LG Group Chairman Koo Bon-moo and Knowledge Economy Minister Lee Youn-ho, announced the ground-breaking of their electric-car battery plant in Ochang, North Chungcheong. The company announced that it plans to spend 1 trillion won ($803 million) to build the plant by 2013.
LG Chem Ltd. plans to aggressively increase its presence in the electric car battery market as global interest in the development of eco-friendly vehicles continues.
The country’s largest chemical company broke ground on the construction of the nation’s first electric-car battery plant at Ochang Scientific Industrial Complex in North Chungcheong.
Koo Bon-moo, LG Group chairman, as well as Lee Youn-ho, Knowledge Economy minister, participated at the ceremony.
The plant is expected to be completed with the battery production line operational by next year. LG Chem will invest 1 trillion won ($803 million) until 2013 in turning Ochang into the center of the world’s next generation battery industry. LG Chem expects to generate 2 trillion won in revenue in 2015 and is targeting 20 percent of the global market share for automotive batteries the same year. The chemical company also expects the investment to help create 3,000 new jobs by 2015.
LG Chem earlier this year signed an agreement with General Motors to supply batteries for the U.S. auto company’s plug-in vehicle, Chevrolet Volt. Additionally, the Korean company will provide batteries for hybrid vehicles developed by the leading Korean carmakers Hyundai Motor and Kia Motors.