Lgc news

LG Chem (LGC) is a South Korean chemical company that has been making headlines in recent years due to its significant advancements in the field of electric vehicle (EV) batteries and other innovative technologies. Here are some recent news updates about LG Chem:

Recent News:

  1. LG Chem to supply batteries to Volkswagen: In November 2022, LG Chem announced that it had signed a deal with Volkswagen to supply batteries for the German automaker's electric vehicles. The agreement is worth around $1.1 billion.
  2. LG Chem to invest in new battery plant in the US: In October 2022, LG Chem announced plans to invest $3.2 billion in a new battery plant in the United States. The plant, which is expected to be operational by 2024, will have an annual production capacity of 50 GWh.
  3. LG Chem develops new solid-state battery technology: In September 2022, LG Chem announced that it had developed a new solid-state battery technology that is expected to improve the safety and performance of electric vehicles. The technology uses a solid electrolyte instead of a liquid one, which reduces the risk of fires and increases the battery's lifespan.
  4. LG Chem partners with Hyundai Motor Group to develop autonomous driving technology: In August 2022, LG Chem announced that it had partnered with Hyundai Motor Group to develop autonomous driving technology. The partnership aims to develop a Level 4 autonomous driving system that can be used in various vehicles.
  5. LG Chem to supply batteries to General Motors: In July 2022, LG Chem announced that it had signed a deal with General Motors to supply batteries for the American automaker's electric vehicles. The agreement is worth around $2.5 billion.

Upcoming Events:

  1. LG Chem's Q4 2022 earnings release: LG Chem is expected to release its Q4 2022 earnings report in February 2023. The report will provide insights into the company's financial performance and outlook for the future.
  2. LG Chem's annual general meeting: LG Chem's annual general meeting is scheduled to take place in March 2023. The meeting will provide an opportunity for shareholders to discuss the company's performance and strategy.

Recent Financial Performance:

  1. LG Chem's Q3 2022 earnings: In November 2022, LG Chem reported its Q3 2022 earnings, which showed a net income of 1.14 trillion won (approximately $950 million). The company's revenue for the quarter was 14.43 trillion won (approximately $12.2 billion).
  2. LG Chem's 2022 financial guidance: In October 2022, LG Chem provided its financial guidance for 2022, which included a net income of 4.5 trillion won (approximately $3.8 billion) and revenue of 55 trillion won (approximately $46.5 billion).

I hope this information helps!