US EditionToyota Affiliate Invests in LG Chem Plant for Cathode Partnership
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2 Articles
Toyota affiliate invests in LG Chem plant for cathode partnership
LG Chem, Korea's leading chemical company, said Tuesday a Toyota Group affiliate has acquired a 25 percent stake in its cathode plant to bolster their global battery materials partnership. Toyota Tsusho Corp., the trading arm of Toyota Group, purchased the stake in LG-HY BCM, LG Chem's cathode materials plant in Gumi, 230 kilometers south of Seoul, to strengthen their competitiveness in the cathode materials market, LG Chem said in a press relea…
[Digital Daily Reporter Bae Tae-yong] LG Chem and Japan's Toyota Group have entered into a strategic alliance to advance into the cathode materials market. This move is aimed at addressing U.S. Inflation Reduction Act (IRA) regulations and strengthening the North American supply chain. LG Chem announced on the 9th that Toyota Tsusho, a Toyota Group affiliate, has acquired a 25% stake in the Gumi cathode materials plant (LG-HY BCM), becoming its …
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