LG Energy Solution, the battery technology arm of South Korea’s LG Group, has completed its acquisition of 100% ownership in battery energy storage system (BESS) integrator NEC ES.
Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.
BloombergNEF (BNEF) has ranked China #1 among the countries of the world most involved in the lithium-ion battery supply chain in 2020, with Japan and South Korea in second and third place respectively.
The new mission focuses on local manufacturing across the whole supply chain for electric vehicles (EV) including battery and cell manufacturing while also supporting clean energy and storage uptake.
Kokam has been awarded contracts to deliver 40MWh of battery energy storage at solar power plants in South Korea, including its newest High Energy Lithium Nickel Manganese Cobalt Oxide (HE NMC) batteries.
Vikram Sarabhai Space Centre (VSSC), part of the Indian Space Research Organisation (ISRO), has offered to transfer its lithium-ion cell technology to Indian companies to support them in establishing lithium-ion cell production facilities in India.
