LG chem Ltd.

Toray and LG Chem have plans to establish a joint venture – LG Toray Hungary Battery Separator for the manufacture and sales of battery separator film which are used in automotive lithium-ion batteries. For this, LG Chem will invest 375 million dollars in Toray Industries Hungary, a 100 % subsidiary of Toray which will then establish the joint venture.

LG Chem has signed a joint venture agreement with Tianjin B&M Science and Technology, a subsidiary of China’s Zhejiang Huayou Cobalt to produce affordable and high-quality cathode materials, a key component in battery manufacturing. With an investment of 403 million dollars from both the partners, LG Chem’s cathode production site in Gumi, South Korea will be used for the project.