LG Chem, the world’s top electric vehicle EV battery maker, is in talks with a “couple” of automakers to create joint ventures to produce automotive batteries, Chief Executive Officer Hak Cheol Shin told Reuters on Friday uk.reuters.com/article/us-lg-…
“Our joint ventures with Geely and GM have been already announced, and we have ongoing discussions with a couple of other automakers,” he said
The South Korean company currently supplies batteries from its Nanjing China factory for Model 3 vehicles built at Tesla Shanghai plant
“We have started supplying to Tesla in earnest, and this is the beginning of a good partnership and we hope to expand the partnership,” he said
“We are in talks to expand cooperation with almost all automakers, and Tesla is one of them,” he said
However, Shin added that Tesla is not one of the companies LG Chem is discussing joint ventures with
LG Chem is already moving ahead with battery joint ventures with GM and Geely and hopes to expand to other carmakers, Shin said, without elaborating
LG Chem, which has a factory in Poland, is also searching for a site for a new battery factory in Europe, he said
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Cars powered by the combustion of gasoline are plenty prone to catching fire.
But the issues affecting some of the world's largest automakers over the past week are both a reflection of plug-in models taking off in the market and a threat to more widespread adoption
The vehicle blazes are making a big impact before automakers have even managed to pin down their precise causes.
A flaw affecting a plug-in hybrid SUV in Europe will keep Ford from complying with tougher emissions standards this year
Ionity has not been able to meet the needs of its customers through the process of taking on the status of energy distributor, which is required to be able to charge energy as a quantity and not a time-service
The Tesla Supercharge charge has been slightly increased to €0.30 per kWh but this is still very competitive with the Ionity network without a subscription from the consortium's manufacturers
Enterprise Value is a more comprehensive measure of the real value of a company to its various stakeholders than “Market Capitalization” which only reflects the company’s residual value to its Equity Shareholders
These other stakeholders have superior interests in the company’s income, assets and cash flows and they include Debtholders and Employees
Their interests can be added to the market value of the Shares to get a better measure of what the market thinks a company is really worth
In this chart I have used the face value of the Debt and Unfunded Pension Obligations minus Cash to make a quick approximation of the Enterprise Value of these 15 players in the Automobile industry