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    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
  Report
End-of-day quote Korea Stock Exchange  -  2022-09-29
536000.00 KRW   -2.01%
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GM signs agreements with suppliers, on course to reach 1 million EV capacity by 2025

07/26/2022 | 06:07am EDT
FILE PHOTO: Logo of GM atop the company headquarters

(Reuters) - General Motors Co said on Tuesday it had signed multi-year agreements with LG Chem Ltd and Livent Corp to secure key raw materials used in manufacturing batteries for electric vehicles.

With the latest deals, GM said it had lined up supplies for all battery raw materials, including lithium, nickel, cobalt and cathode active material, and was on course to reach its goal of producing 1 million EVs annually in North America by end-2025.

Nudged by the U.S. government and looking to get ahead in a booming market for EVs, automakers are striking deals to source key inputs for batteries, with an aim to localize the supply at some point.

LG Chem will supply GM with 968,000 tons of cathode material starting in the second half of 2022 through 2030, enough for about 5 million EVs, GM said.

Cathode material, made from processed nickel, lithium and other materials, represents about 40% of the cost of a battery cell, according to the company.

The automaker will receive battery-grade lithium hydroxide from Livent over six years starting 2025, with neither company specifiying the quantity.

In both the agreements, GM and the suppliers will work to localize production.

GM's announcement comes about a week after Ford Motor Co signed on China's CATL to import lower-cost lithium iron batteries. Ford said its various agreements c
over 70% of the material it needs to make 2 million EVs annually by 2026. https://reut.rs/3cGcVX0

(Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -2.35% 11.2 Delayed Quote.-44.78%
GENERAL MOTORS COMPANY -3.52% 32.09 Delayed Quote.-45.27%
LG CHEM, LTD. -2.01% 536000 End-of-day quote.-12.85%
LG CORP. -0.67% 74000 End-of-day quote.-8.53%
LIVENT CORPORATION -0.20% 30.65 Delayed Quote.25.72%
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Analyst Recommendations on LG CHEM, LTD.
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Financials
Sales 2022 51 217 B 35,7 B 35,7 B
Net income 2022 2 596 B 1,81 B 1,81 B
Net Debt 2022 4 216 B 2,94 B 2,94 B
P/E ratio 2022 15,5x
Yield 2022 1,96%
Capitalization 39 577 B 27 560 M 27 560 M
EV / Sales 2022 0,86x
EV / Sales 2023 0,79x
Nbr of Employees -
Free-Float 59,6%
Chart LG CHEM, LTD.
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Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 26
Last Close Price 536 000,00 KRW
Average target price 783 538,46 KRW
Spread / Average Target 46,2%
EPS Revisions
Managers and Directors
Hak Cheol Shin Chairman & Chief Executive Officer
Okdong Son President
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Young-Ho An Independent Director
Sector and Competitors