LG Chem

LG Chem, Ltd. is the diversified chemical company South Korea working in three main areas: petrochemical production, hi-tech materials and power generating systems. The company was founded in 1947, ichislo her employees are made by more than 34,000 people worldwide (data of 2019). The company is engaged in development and production of a number of goods from petrochemical products to complex plastics. In addition, extensive chemical experiment of the company allows it to compete actively in such hi-tech areas of production as materials for an electronic equipment and Li-ion rechargeable batteries.

Thanks to more than twenty years' experience of development and production, the LG Chem company deservedly is one of world market leaders of li-ion cells. LG Chem – the prime international vendor of lithium batteries for mobile phones, hybrid/electric cars and also the systems of power storage.

History

2020: A gas leak at chemical plant

On May 7, 2020 at LG Polymers chemical plant (enters into LG Chem company) in the Indian state of Andhra Pradesh there was a gas leak. At least 11 people died, more than 1000 hospitalized, and the total quantity of victims exceeded 5 thousand people. Among the dead — two elderly people and one 8-miletny child. Read more here.

2019: Creation with General Motors of the plant on release of accumulators for electric vehicles for $2.3 billion

At the beginning of December, 2019 General Motors and LG Chem announced creation for $2.3 billion the plant on release of li-ion cells for electric cars of the American concern.

The specified investments will be directed to construction of factory (will begin in the middle of 2020), which will be located near the village of Lordstown, State of Ohio (USA). About 1.1 thousand people will work at the enterprise, and its annual production capacity is estimated by 30 GW · h. In the future deliveries of batteries can be increased there.

These accumulators are going to be installed on the electric vehicles General Motors, in particular, on the new truck which the company is going to present in 2021.^[1]

According to General Motors, thanks to the new project it will be possible to reduce the cost of rechargeable batteries and, respectively, will make electric vehicles of the American carmaker more available to consumers. Earlier the auto giant announced investment of $700 million into production capacities into Ohio which will allow to create 450 jobs among other things.

Electric vehicles

Notes