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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  LG Chem, Ltd.    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
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China's CATL is developing new EV battery with no nickel, cobalt, executive says

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08/15/2020 | 03:55am EDT

China's Contemporary Amperex Technology Co Ltd (CATL), a Tesla supplier, is developing a new type of electric vehicle (EV) battery that contains no nickel or cobalt, a company executive said on Saturday.

Nickel and cobalt are key ingredients in the batteries that power EVs. Battery makers from Japan's Panasonic Corp to South Korea's LG Chem are lowering the use of expensive cobalt in their nickel-cobalt-aluminium (NCA) batteries or nickel-cobalt-manganese (NCM) batteries.

Tesla's boss, Elon Musk, last month urged miners to produce more nickel, warning the current cost of batteries remained a big hurdle to the company's growth.

Ningde-based CATL makes NCM batteries and supplies lithium iron phosphate (LFP) batteries to Tesla. It has partnerships with Japan's Toyota Motor and Honda Motor and supplies Germany's Volkswagen AG and Daimler AG.

The new battery type will be different from existing NCA, NCM and LFP batteries and will have no expensive metals like nickel or cobalt, Meng Xiangfeng, a senior executive at CATL, told an industry conference held by the China Association of Automobile Manufacturers in Shanghai.

Meng did not give details of the makeup or the cost of the planned battery type.

CATL is also developing a separate technology to integrate battery cells directly into an EV's frame to extend its driving range.

(Reporting by Yilei Sun and Brenda Goh; Editing by William Mallard)

Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 0.36% 191.5 End-of-day quote.79.98%
DAIMLER AG -0.67% 44.185 Delayed Quote.-10.50%
HONDA MOTOR CO., LTD. 1.73% 2474.5 End-of-day quote.-20.15%
LG CHEM, LTD. 2.62% 627000 End-of-day quote.97.48%
LG CORP. -0.14% 72100 End-of-day quote.-2.30%
PANASONIC CORPORATION 0.39% 907.3 End-of-day quote.-11.87%
TESLA, INC. 5.04% 407.34 Delayed Quote.386.86%
TOYOTA INDUSTRIES CORPORATION 2.63% 6630 End-of-day quote.4.74%
TOYOTA MOTOR CORPORATION 1.49% 7031 End-of-day quote.-8.85%
VOLKSWAGEN AG -2.37% 133.3 Delayed Quote.-24.36%
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Financials
Sales 2020 31 294 B 26,7 B 26,7 B
Net income 2020 1 311 B 1,12 B 1,12 B
Net Debt 2020 8 219 B 7,00 B 7,00 B
P/E ratio 2020 35,2x
Yield 2020 0,64%
Capitalization 45 500 B 38 660 M 38 766 M
EV / Sales 2020 1 454x
EV / Sales 2021 1 187x
Nbr of Employees -
Free-Float 58,0%
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Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Average target price 831 482,76 KRW
Last Close Price 627 000,00 KRW
Spread / Highest target 78,6%
Spread / Average Target 32,6%
Spread / Lowest Target -44,2%
EPS Revisions
Managers
NameTitle
Hak Cheol Shin Vice Chairman & Chief Executive Officer
Okdong Son President
Jin-Soo Park Vice Chairman
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Sector and Competitors
1st jan.Capitalization (M$)
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HANGZHOU FIRST APPLIED MATERIAL CO., LTD.97.56%7 735