Automotive

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  Chile's SQM to receive Korea Eximbank's $100 million fund for stable lithium supply to S. Korean firms SEOUL -- Korea Eximbank, an official export credit agency in South Korea, will provide a fund of $100 million to SQM, a Chilean supplier of plant nutrients, iodine, lithium and industrial chemicals, to help ensure a stable supply of lithium for domestic battery and cathode material makers. The fund including $55 million in loans and $45 million in guarantees will be used to invest in SQM's development of lithium mines in Australia and the renovation and expansion of production 2022-09-07
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  EcoPro to receive lithium hydroxide for lithium-ion battery cathode material from Germany's AMG SEOUL -- In a bid to secure a stable supply of crucial raw materials, EcoPro BM, a leading producer of core materials for batteries in South Korea, will receive some 5,000 tons of lithium hydroxide, an inorganic compound used for the production of cathode materials for lithium-ion batteries, annually from AMG Lithium, a Frankfurt-based producer of lithium-containing materials. Lithium hydroxide is preferred over lithium carbonate because lithium hydroxide battery cathodes have more 2022-09-07
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  Lotte Chemical completes pilot plant to produce tanks for fuel cell electric vehicles SEOUL -- Lotte Chemical, a major chemical company based in South Korea, has completed a pilot plant for the production of hydrogen tanks for fuel cell electric vehicles. It is designed to produce up to 15,000 50-liter hydrogen tanks annually. Lotte Chemical said it would develop various capacity hydrogen tanks and apply them to commercial vehicles and drones. "Hydrogen tank technology plays an important role in storing and utilizing hydrogen with the growth of hydrogen mobili 2022-09-07
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  SK ecoplant becomes largest shareholder of U.S. waste battery recycling company Ascend Elements SEOUL -- SK ecoplant, an environmental and energy solution provider affiliated with South Korea's SK Group, has strengthened its presence in the recycling of discarded electrical or electronic devices such as waste electric vehicle batteries by becoming the largest shareholder of Ascend Elements, an innovative U.S. waste battery recycling company. SK ecoplant said it has signed a stock purchase agreement of $50 million with Ascend Elements, which has efficient technologies to 2022-09-01
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  LG Innotek talks with Tesla on potential deal to supply camera modules SEOUL -- LG Innotek, the electrical component wing of South Korea's LG Group, is talking with Tesla on a potential deal to supply camera modules for electric vehicles. Details were not given, but the module maker has been registered as a supplier of parts for Tesla vehicles. In a regulatory filing on August 25 to respond to a new report that Tesla would receive LG Innotek's camera modules worth one trillion won ($751 million), the South Korean company said that discussion 2022-08-26
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  POSCO Chemical clinches $804 million supply deal for ESS cathode material SEOUL -- POSCO Chemical, a unit of South Korea's top steel group POSCO, has clinched an $804 million deal to provide cathode materials for an energy storage system probably to a domestic client. Energy storage systems (ESSs) are normally used to store energy generated by renewable energy sources and redistribute electricity when green energy sources are not active. The deal reflects POSCO Chemical's aggressive strategy to build a mass-production base abroad and become a glo 2022-08-25
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  Hyundai in-house venture's robot used for pilot last mile delivery service from CU convenience store SEOUL -- An autonomous robot created by Mobinn, an in-house venture of South Korea's Hyundai auto group, will be deployed for a pilot last-mile delivery service from a convenience store to the doorstep of customers. The goal is to check the driving performance of delivery robots and their ability to overcome obstacles in urban environments. BGF Retail, the operator of South Korea's largest convenience store chain CU, tied up with Mobinn and NICE Information & Telecomm 2022-08-25
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  Researchers use redox-active interlayer strategy to develop high-energy lithium-sulfur batteries SEOUL -- Lithium-sulfur batteries have higher energy density than lithium-ion batteries, but it was not easy to commercialize them as their life and safety degrade. When lithium and sulfur meet during charging and discharging, it becomes lithium sulfide, also known as lithium polysulfide. Due to the high solubility, lithium polysulfide can be lost during repeated charging and discharging. A conventional strategy to mitigate such problems is to immobilize lithium polysulfide (LiPSs 2022-08-24
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  Hanwha Aerospace secures $165 million contract to supply electromechanical actuators for Vertical's eVTOL vehicle SEOUL -- Hanwha Aerospace, an aircraft parts maker affiliated with South Korea's Hanwha Group, has secured a 10-year contract worth about $165 million from Britain's electric aviation company Vertical Aerospace to supply high-performance electromechanical actuators for an electric vertical takeoff and landing (eVTOL) vehicle. An electromechanical actuator that converts electricity to mechanical force is a core component for personal air vehicles. Vertical's eVTOL model, 2022-08-23
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  Hyundai Mobis develops technology to sterilize and purify car room air SEOUL -- In response to a new trend that emphasizes hygiene due to a COVID-19 pandemic, Hyundai Mobis, the parts-making unit of South Korea's Hyundai auto group, has developed a technology to sterilize and purify internal air instead of filtering pollutants through car air conditioner filters or using a separate air purifier indoors. Hyundai Mobis has developed a built-in air sterilization system using ultraviolet (UV) rays with the aim of removing floating bacteria from mecha 2022-08-16
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  SK Telecom works with state agency to establish 5G UAM communication network SEOUL -- SK Telecom, a mobile carrier in South Korea, will establish an aerial 5G communication network for the demonstration of urban air mobility, an ecosystem covering personal air vehicles and infrastructure, in cooperation with a state aeronautics and space agency in a flight test center in the southern seaside county of Goheung. As a member of UAM Team Korea, a public-private consultative body, to commercialize manned drone taxis in 2025, remote-controlled vehicles in 2030 2022-08-04
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  [FOCUS] Premature concerns grow over low-cost offensive by Chinese electric vehicles SEOUL -- There has been no change in the public perception of cheap Chinese products that have largely failed to satisfy picky South Korean consumers so far. However, premature concerns are growing in the domestic car industry that Chinese electric vehicles may make quick inroads by pouring out various models and with their low-cost offensive based on the economy of scale achieved on their home turf. Experts recommend a major overhaul of subsidies to prevent Chinese and other import 2022-08-04
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  SK nexilis acquires technology to produce ultra-high strength copper foil SEOUL -- SK nexilis, a subsidiary of SKC, a chemical material unit of South Korea's SK Group, has acquired technology to produce an ultra-high strength copper foil product for electric vehicle batteries. The new product can withstand more than twice the pulling force compared to existing standard products. Battery foils made of aluminum and copper are used as anodes and cathodes for secondary batteries. Foils work as the bridge between external components and internal lithium- 2022-08-02
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  POSCO Chemical secure new contract from GM to supply cathode materials for high-nickel batteries SEOUL -- POSCO Chemical secured a new three-year contract worth 13.7 trillion ($10.5 billion) from General Motors to supply cathode materials for high-nickel batteries to GM's joint venture with LG Energy Solution, a major battery maker in South Korea. Cathode materials produced at POSCO Chemical's domestic plant in the southern industrial port city of Gwangyang will be shipped from 2023 to the GM-LG joint venture, Ultium Cells. POSCO Chemical and GM have agreed to buil 2022-07-28
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  LG Electronics ties up with SoundHound to develop advanced voice AI technology for in-vehicle infotainment systems SEOUL -- LG Electronics tied up with SoundHound, a U.S. audio and speech recognition company, to jointly develop advanced voice AI technology for new in-vehicle infotainment systems, which are seen as the heart of connected cars that provide various features such as navigation, self-diagnostics, entertainment and vehicle controls. LG Electronics has signed a memorandum of understanding with SoundHound. The partnership will leverage LG’s innovative in-vehicle infotainment (IV 2022-07-28
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  Hyundai joins hands with state research bodies to develop lunar exploration mobility SEOUL -- South Korea's Hyundai auto group formed a consultative group with six prominent state research bodies to carry out a joint study on the development of lunar surface exploration mobility. The move came ahead of the planned launch of South Korea's first lunar orbiter on SpaceX's Falcon-9 at Cape Canaveral Air Force Station in Florida. While developing technologies required for lunar exploration mobility, the consultative body will consider specific strategies a 2022-07-27
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  LG Uplus consortium selected by Busan to carry out UAM demonstration SEOUL -- A consortium involving LG Uplus, a mobile carrier in South Korea, will carry out demonstration projects in the southern city of Busan using its marine infrastructure with the aim of commercializing urban air mobility, an ecosystem covering personal air vehicles and infrastructure, in 2026. LG Uplus (LGU+) said that the consortium has signed a business agreement with the Busan city government, two military units including a naval fleet command and other organizations to comm 2022-07-27
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  Research body develops train-to-train communication technology for autonomous driving SEOUL -- South Korea's state-run railway research body has developed a train-to-train communication technology, opening the way for the commercialization of an autonomous driving system that allows trains to judge operation conditions by themselves. A train autonomous driving system is an intelligent train control technology that directly communicates between trains to recognize the operation situation in real-time for safety. The Korea Railroad Research Institute (KRRI) claimed 2022-07-26
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  LGES agrees with Huayou Cobalt to establish battery recycling joint venture in China SEOUL -- LG Energy Solution, the battery-making wing of South Korea's LG Group, will establish a joint venture with its Chinese partner, Zhejiang Huayou Cobalt to extract and recycle core materials from waste batteries. The deal comes on the heels of soaring prices in battery-grade minerals such as nickel, cobalt, manganese and lithium. LG Energy Solution (LGES) said it has signed a memorandum of understanding with Huayou on the establishment of a battery recycling joint ve 2022-07-26
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  SK On and Ford to build cathode plant in North America to bolster battery cooperation SEOUL -- Through joint investment, SK On, a major battery maker in South Korea, and its American partner, Ford, will build a cathode plant in an undecided location in North America to secure a stable supply of core materials for electric vehicle batteries. SK On said it has signed a letter of intent with Ford and EcoPro BM, a leading producer of core materials for batteries in South Korea, for joint investment in the production of a cathode plant. Construction is to begin in the se 2022-07-22