KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Battery

LG Chem to Inject 65 Bln Won to Increase Carbon Nanotube Production

James Jung by James Jung
PUBLISHED: April 27, 2020 UPDATED: April 27, 2020
in Battery, LG Chem, South Korea, Tech Industry
0
LG Chem invests in carbon nanotube
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.

LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.

LG Chem said Monday that it would inject 65 billion won ($53 million) to boost its carbon nanotubes production manufacturing capability. The move came as the company sees more applications in global end-use industries such as electric vehicles, electronics, and polymers.

LG Chem said the decision to increase the company’s production capability would strengthen its global competitiveness. The company added that it would aggressively adopt the next-generation material in the production of lithium-ion batteries.

Carbon nanotubes (CNTs) are an effective buffering component that could improve the capacity and cyclability of lithium-ion batteries. Highly metallic carbon nanotubes could significantly improve electronic transport in anodes.

Global demand for the CNTs in the EV market is expected to grow with a 34 percent annual rate reaching 13,000 tons in 2024.

CNTs are allotropes of carbon with superior electrical, thermal, and mechanical properties than those of existing materials. CNTs’ are key material for the production of semiconductors, lithium-ion batteries, EV parts, aerospace parts, etc.

Growing Carbon Nanotube Market

LG Chem said it would direct the investment into its factory located at Yeosu in Jeolla Province. The company would increase the annual production of CNTs from 500 tons to 1,700 tons by March next year.

Global market research firm, Grand View Research, said that the global market for CNTs would reach 3.9 trillion won ($3.2 billion) by 2022 and would continue to increase steadily.

Currently, LG Chem operates five EV battery factories in South Korea, the United States, China, and Poland. All plants have a combined capacity of 70 gigawatt-hours.

The company supplies batteries to top car brands such as South Korea’s largest carmaker Hyundai Motor, German automaker Volkswagen, American auto giant General Motors, and French carmaker Renault.

LG Chem plans to expand sales to automotive OEMs and global IT materials companies in Europe, North America, and China.

LG Chem, in 2011, started its R&D to develop proprietary CNT technologies and, in 2013, constructed a 20-ton pilot mass production line. The company currently possesses over 250 patents in the CNT-related markets.

Tags: 65 billion woncarbon nanotubeelectric vehicleInvestmentLG chemlithium-ion batteryManufacturingproduction

Related Posts

South Korea Prepares Fourth Launch of Homegrown Nuri Rocket
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Government

South Korea Prepares Fourth Launch of Homegrown Nuri Rocket

October 1, 2025
South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Data Center

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub

October 1, 2025
Samsung AI Forum 2025: Could its AI Agents Change How We Interact with Technology?
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
AI

Samsung AI Forum 2025: Could its AI Agents Change How We Interact with Technology?

September 25, 2025
Global API Standardization Gets a Push with SK Telecom–Aduna Partnership
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
AI

Global API Standardization Gets a Push with SK Telecom–Aduna Partnership

September 23, 2025
South Korea Trains Civil Servants in AI to Drive ‘Super-Innovation Economy’
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
AI

South Korea Trains Civil Servants in AI to Drive ‘Super-Innovation Economy’

September 18, 2025
$12B Crypto Wave: How Young Koreans Are Shaping Global Markets
LG Chem injects 65 billion won ($53 million) to expand its carbon nanotube production.
Cryptocurrency

$12B Crypto Wave: How Young Koreans Are Shaping Global Markets

September 1, 2025
No Result
View All Result

Most Popular

  • Ride-Hailing Rivalry: Kakao and Uber Bet on Membership Services in Korea

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility Faces $10.5 Million Fine for Limiting Competitors’ Access to Taxi Platform

    0 shares
    Share 0 Tweet 0
  • Korea’s Navigation Battle Heats Up: Naver and Kakao vs. Google maps

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Naver Launches 3D Street View for Immersive Navigation Experience

    0 shares
    Share 0 Tweet 0
  • KakaoTalk to Adopt Instagram-Style Feed in Major 2025 Redesign

    0 shares
    Share 0 Tweet 0
  • Naver Maps Launches Guide in English, Chinese, and Japanese to Enhance Travel Experience for Tourists

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Naver Unveils Asia’s Largest Data Center, GAK Sejong, for Tech Innovation

    0 shares
    Share 0 Tweet 0
  • South Korea Invests $1.1B to Build National AI GPU Infrastructure

    0 shares
    Share 0 Tweet 0

PRODUCTS

[ads_amazon]

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • home
  • homepage
  • mainhome
  • Our Services
  • Privacy Policy
  • Terms of Use

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |