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Lotte Chemical Corporation (011170.KS)

KSE - KSE Delayed Price. Currency in KRW
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186,500.00-1,000.00 (-0.53%)
At close: 03:30PM KST
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  • Reuters

    Exclusive-Soelect, Lotte Chemical aim to scale up U.S. output of battery components

    Battery startup Soelect and Korean supplier Lotte Chemical said on Tuesday they intend to invest more than $200 million in a joint venture to make advanced battery components for electric vehicles in the United States. The companies signed a memorandum of understanding to scale up production of Soelect’s LiX lithium metal anodes for next-generation batteries with higher energy density and fast-charging capability. EV batteries with lithium metal anodes have the potential to store more energy - thus providing longer vehicle range between charges - as well as the ability to charge much faster than vehicles equipped with current lithium-ion batteries that use graphite or silicon-rich anodes.