|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.22|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||10,000.00 (1.39%)|
|Ex-dividend date||28 Dec 2022|
|1y target est||N/A|
Elon Musk highlights a challenge facing the EV battery market — a need for more lithium refineries. Some experts, however, expect this market will look like most commodities markets in a decade.
The South Korean company, which supplies Tesla, General Motors Co and others, said it is targeting revenue growth of 25-30% this year, aiming to achieve up to 33.3 trillion won ($27 billion) in revenue. LGES' fourth-quarter profit tripled as it ramped up production to address a huge order backlog from automakers rushing to take a bigger bite out of the growing EV market. LGES, which has joint battery plants with GM, Stellantis NV and Honda Motor Co Ltd in North America, said its battery order backlog rose to 385 trillion won ($313 billion) by the end of December, or more than 11 times its projected 2023 revenue.
Korean Zinc and commodities trader Trafigura are in advanced talks to form a joint venture to build a nickel smelter as part of the Korean company's expansion in renewable energy, batteries and resource recyling, they said late on Wednesday. Nickel is one of the key materials used to make electric vehicle batteries. As part of the deal, Trafigura along with Morgan Stanley and Korea Investment & Securities will take a stake in Korea Zinc through treasury shares worth 372.3 billion won ($280 million).
SEOUL (Reuters) -South Korea's LG Chem Ltd said on Tuesday it will invest more than $3 billion to build a battery cathode factory in Tennessee, as it ramps up plans to meet rising demand for U.S. electric vehicle components. It's one of the first major EV-related investments announced by a South Korean firm in the United States since a new U.S. law was passed in August that puts automakers and battery suppliers relying heavily on China for sourcing at a cost disadvantage. Mass production is set to start in the second half of 2025 and the plant will create more than 850 jobs, LG Chem said in a statement.
Aveo Pharmaceuticals (AVEO) is set to be acquired by LG Chem for an aggregate amount of $566 billion. The deal is expected to close by early 2023. Stock up.
Yahoo Finance anchor Brad Smith breaks down how markets are trading, plus why AVEO stock is soaring today.
Archer Daniels (ADM) expands its partnership with LG Chem to form two joint ventures, which will help ADM meet the growing demand for plant-based products.
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. 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.