Korean battery enterprises showed ambitions in global lithium ion market based on their expansion plan and supply contract with automakers. LG Chem expands its production capacity in Nanjing China and Poland Europe, which would reach total production capacity of 96 GWh by 2022. Furthermore, LG Chem strengthened cooperation with automakers including BMW, Volkswagen, Hyundai, Volvo, GM, Chrysler, Renault and other well-known companies.
As Korean domestic competitor of LG Chem, SK Innovation speeds up its pace in global e-mobility market and proactive to form new alliance with more automobile manufacturers.
Referring to the common downstream of LG Chem and SK Innovation, BMW Group exceeded 500,000 units sales of electric vehicles in 2019. There are some dynamics about BMW, LG Chem and SK Innovation.
LG Chem: 60 billion power battery projects put into production in Nanjing
In November 2019, the first phase of LG Chem's power battery project in Nanjing has been mass-produced recently, with an expected annual output value of 60 billion yuan. The project has a total investment of US $ 2 billion and a land area of 700 acres. which is invested and constructed in two phases.
There are totally 23 cell production lines, including 16 vehicle batteries lines, 3 ESS batteries lines, and 4 small batteries lines. With the increase of new orders from Chinese domestic and overseas auto brands, LG Chem will continue to expand its investment scale and production capacity.
Hyundai to buy electric vehicle batteries from SK Innovation
Hyundai Motor and affiliate Kia Motors have decided to secure electric vehicle batteries from SK Innovation r the next four to five years. The sources said the deal was worth more than 10 trillion won ($8.6 billion). SK Innovation, Hyundai Motor and Kia declined to comment.
Hyundai Motor said in October it would launch 16 EV models by 2025, aiming to boost EV sales 560,000 by then, a level that would be equivalent to more than 10% of its projected global sales this year.
BMW's global e-mobility sales exceed 500,000 units in 2019
BMW Group's sales of electric vehicles exceeded 500,000 in 2019. "BMW 330e" in Munich, Germany was delivered to customers on the 19th December.
Oliver Group President BMW Group President said: "By 2021, more than 1 million electric vehicles will be sold as the goal and continue to contribute to climate protection. " The BMW Group has set targets for one-quarter of cars sold in Europe by 2021, one-third by 2025, and one-half by 2030.
To realize electrification target, BMW plans to produce more electric vehicles. And BMW X3 pure electric car 'BMW iX3' will be produced in China for the global market.
