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    A003550   KR7003550001

LG CORP.

(A003550)
  Report
End-of-day quote. End-of-day quote Korea Stock Exchange - 04/20
110500 KRW   -2.21%
04/19LG CHEM, LTD.  : quaterly earnings release
04/19SECTOR UPDATE : Tech Stocks Slip Pre-Bell Monday
MT
04/19Seoul Stocks Inch Higher on Strong Optimism over First Quarter Corporate Earnings
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LG : GM offers clues to technology aimed at slashing EV battery costs

04/07/2021 | 04:16pm EDT
FILE PHOTO: Logo of GM atop the company headquarters

(Reuters) - General Motors Co is testing a variety of battery chemistries, technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals as cobalt, President Mark Reuss said on Wednesday.

Reuss, speaking at an investor conference, said GM is experimenting with silicon-rich and lithium metal anodes, solid state and high voltage electrolytes, and dry processing of electrodes for its next generation of Ultium batteries, due around 2025.

The competition to fine-tune proprietary technology to cut electric vehicle battery costs is replacing horsepower wars as the battleground for deciding the industry's winners and losers.

GM has said it aims to reduce battery cell cost to well under $100 per kilowatt-hour by 2025, compared with more than $150/kW today. GM executives also have said the company expects its future EV batteries to last for a million miles or more, with driving ranges of 500-600 miles (805 to 965 km) between charges.

The automaker's $2.3-billion joint venture with Korea's LG Energy Solution is due to start producing Ultium battery cells in Lordstown, Ohio, in 2022.

That battery, which will be used in new GM electric vehicles such as the Hummer EV and Cadillac Lyriq, uses graphite-based anodes, nickel-cobalt-manganese-aluminum (NCMA) cathodes and liquid electrolyte.

GM and LG are expected shortly to announce a second EV battery plant in Tennessee, to further support GM's production target of 1 million electric vehicles a year by 2025.

Citing GM's investment in and technology partnership with Massachusetts-based battery startup SES, Reuss said GM is "open to different partnerships and different technologies" in its ongoing efforts to reduce battery cost and improve energy density to extend electric vehicle range.

He said "the supply chain is going to explode" with demand for cobalt, nickel and other metals as GM and competitors ramp up EV production over the next five years.

Reuss said the company is "looking for breakthroughs" in order to "reduce dependency on some of those metals."

(Reporting by Paul Lienert in Detroit; Editing by Matthew Lewis)

By Paul Lienert


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -4.41% 55.325 Delayed Quote.39.00%
LG CHEM, LTD. 1.36% 893000 End-of-day quote.8.37%
LG CORP. -2.21% 110500 End-of-day quote.26.29%
S&P GSCI GOLD INDEX 0.15% 1033.1278 Delayed Quote.-6.57%
All news about LG CORP.
04/19LG CHEM, LTD.  : quaterly earnings release
04/19SECTOR UPDATE : Tech Stocks Slip Pre-Bell Monday
MT
04/19Seoul Stocks Inch Higher on Strong Optimism over First Quarter Corporate Earn..
MT
04/19NOKIA  : LG Uplus Team Up to Expand 5G Coverage in South Korea
MT
04/19MARKET CHATTER : LG Energy to Spend $950 Million on US EV Battery Plant with GM
MT
04/19S.Korea stocks mixed, barely up for sixth session ahead of tech, auto earning..
RE
04/18Analysis-China's green car credit scheme turns up heat on carbon-emitters
RE
04/16GM, LG Energy Solution to build 2nd U.S. battery plant in Tennessee
RE
04/16GM to Help Build $2.3 Billion Battery-Cell Plant in Tennessee
DJ
04/16GLOBAL MARKETS LIVE : Daimler, GSK, Mattel
More news
Financials
Sales 2021 7 352 B 6,61 B 6,61 B
Net income 2021 1 921 B 1,73 B 1,73 B
Net cash 2021 1 536 B 1,38 B 1,38 B
P/E ratio 2021 10,1x
Yield 2021 2,32%
Capitalization 19 797 B 17 752 M 17 797 M
EV / Sales 2021 2,48x
EV / Sales 2022 2,04x
Nbr of Employees -
Free-Float 52,8%
Chart LG CORP.
Duration : Period :
LG Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LG CORP.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 129 000,00 KRW
Last Close Price 113 000,00 KRW
Spread / Highest target 45,1%
Spread / Average Target 14,2%
Spread / Lowest Target -15,9%
EPS Revisions
Managers and Directors
NameTitle
Kwang-Mo Koo Chairman & Co-Chief Executive Officer
Young-Soo Kwon Vice Chairman & Co-Chief Executive Officer
Beom-Jong Ha Director & Head-Finance
Jae-Woong Lee Managing Director, Head-Legal & Compliance Support
Sang-Tai Choi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
LG CORP.29.14%17 752
CINTAS CORPORATION-2.75%36 111
TELEPERFORMANCE SE21.82%23 351
EDENRED1.36%13 915
INTERTEK GROUP PLC6.76%13 576
BUREAU VERITAS SA14.57%13 478