LG Chem has received orders from Qoros and SAIC Motor for the supply of electric vehicle (EV) batteries.
The details of the deals have not been disclosed by the South Korean company, however, it said now its portfolio consists of four Chinese customers that have ordered batteries for more than 100,000 EVs.
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Meanwhile, LG Chem also disclosed its plans to enter into a joint venture in China to meet the growing demand in the region. The JV to produce EV batteries is expected to be entered into in the second half of the year.
The company said: “We are in the final process of deciding our JV partner in China and once the decision is made, we plan to pick the site after discussions.”
