LG Chem has said it will spend a trillion won (about US$800m) on a new factory to produce secondary cells for energy-saving cars.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


LG is targeting 2 trillion won in sales of rechargeable cells by 2015 and to reach 20% of global sales of batteries for electric and hybrid vehicles, vice Chairman Peter Bahn-suk Kim told the Korea Herald during a ground breaking ceremony.


LG expects the investment will create 3,000 new jobs by 2015.


In January, LG Chem said it would supply GM with lithium-ion batteries for the Chevrolet Volt.


The global demand for secondary cells used for electric and hybrid vehicles is projected to rise to 10 trillion won by 2015, when the eco-friendly car market expands to 4.6m vehicles. Currently, the annual output is set at 900,000, according to LG.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact