Wed, Oct. 26, 10:19 AM
- Sunrun (RUN -2.6%) announces a partnership to launch LG Chem's (OTC:LGCLF) energy storage technology in the U.S. residential solar market; financial terms are not disclosed.
- RUN says it will offer LG Chem's best-in-class lithium-ion RESU batteries through Sunrun BrightBox solar generation plus energy storage systems.
- The move will put LG in direct competition with Tesla (TSLA -0.9%), which unveiled its own Powerwalls home battery packs last year; RUN has been using TSLA batteries in its home storage systems in Hawaii, and the latest deal will add LG to its list of suppliers.
- "Tesla makes all the headlines, but LG manufactures most of the lithium ion batteries," says RUN CEO Ed Fenster, adding that LG's entry into the market will help bring down battery prices and help them make economic sense for more households.
Fri, Sep. 16, 2:26 PM
- The Chevy Bolt will cost about $158 per mile of driving range, according to a breakdown by Bloomberg.
- That mark compares very favorably to the EV models out on road which vary from a low of $294 for the Tesla Model S to $523 for the BMW i3 on the high side. The Tesla Model 3 cost/range mile is estimated at $163.
- GM outsources battery production to LG Chemical (OTC:LGCLF, OTC:LGCEY) so it's not exactly clear where the company will find the batteries if demand for the Bolt outpaces expectations. The question of battery production has taken on more relevance after a wave of positive Bolt reviews have reset some expectations for the model once described as a "halo" car for the automaker.
- Some analysts think GM's lack of a supercharger-type network of charging infrastructure will crimp demand, while others say the Bolt is destined to satisfy needs in the ride-hailing space or for utilitarian fleets (delivery, commercial, campuses).
- Bolt reviews: The Verge, Wired, Car and Driver, Motor Trend.
Oct. 28, 2015, 12:02 PM
- Tesla Motors (NASDAQ:TSLA) will use LG Chemical (OTC:LGCLF, OTC:LGCEY) for battery upgrades on the Roadster model.
- Though the Roadster is no longer produced by Tesla, the cooperation between the two companies could give Tesla some leverage with Panasonic (OTCPK:PCRFF, OTCPK:PCRFY) as the gigfactory prepares to ramp up.
- LG Chem is already a supplier to the Volt EV and will build batteries for the new all-electric Bolt.
- Previously: GM finds a tech partner for Bolt EV (Oct. 20 2015)
Oct. 20, 2015, 2:27 PM
- General Motors (NYSE:GM) will partner with LG Chem (OTC:LGCLF, OTC:LGCEY) on production of the all-electric Chevrolet Bolt.
- LG subsidiaries are working on various parts of the Bolt - including electric motors, battery cells, and other electronic/dashboard components.
- The GM-LG partnership continues a major trend of automakers and tech firms collaborating. Apple-BMW and Tesla-Samsung are other notable tie-ups, while Google is expected to find a partner soon.
Jan. 7, 2013, 5:45 AM
South Korea's LG Group intends to increase its investment in its electronics ops by almost a third this year to 13.4T won ($12.6B), with the money to go towards ramping up production of LCD and OLED panels, as well as to R&D for phone software, TV sets and flexible displays. LG also aims to spend 3.5T won on its chemical business.| Jan. 7, 2013, 5:45 AM