LG Energy begins mass production of batteries at US plant
Seoul: LG Energy Solution Ltd (
LGES
), South Korea's leading battery maker, said on Sunday it has begun mass production of lithium iron phosphate (LFP) batteries for energy storage systems (ESS) at its manufacturing plant in the United States.
The pouch-type LFP batteries for ESS, based on long cell technology, are being manufactured at the LGES plant in Michigan, according to the Korean company, reports
Yonhap
news agency.
"We are currently in discussions with multiple customers in the North American region for the supply of our ESS batteries," LGES officials said, noting that supply to a number of major U.S. energy firms, such as Terra-Gen and Delta Electronics, has already been confirmed.
LGES said it plans to swiftly respond to growing demand for ESS in advanced industries, such as artificial intelligence (AI) data centres and renewable energies.
LGES is the only major global battery maker that started mass production of LFP batteries tailored for use in ESS in the U.S.
Meanwhile, LG Energy Solution has won a lawsuit against China's
Sunwoda
Group in Germany over the infringement of two patents related to battery separator technology, a company representing LGES in Germany said.
The Munich District Court upheld injunction requests filed by Hungary-based patent management firm
Tulip Innovation Kft
., barring Sunwoda Group affiliates from selling lithium-ion batteries in Germany,
Tulip
said in a press release.
The affected companies include Sunwoda Electronic, Sunwoda Mobility Energy Technology, and their German subsidiaries, Sunwoda Europe and Sunwoda Electric Vehicle Battery Germany.
"These appear to be the first injunctions in Germany related to car batteries. There is no 'free riding' for battery manufacturers on technologies developed by innovation leaders like LGES and Panasonic Energy," the release said.
The court also ordered Sunwoda's affiliates to recall and destroy any remaining infringing batteries in their direct or indirect possession, pay damages to Tulip in principle, and provide detailed accounting records to facilitate damage assessment.
Sunwoda Group is expected to appeal the rulings, but Tulip said it is "confident that the decision will stand on appeal."
The two patents at issue involve battery separators -- a critical component for ensuring the safety and performance of electric vehicle batteries.
-IANS
na/
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
2 hours ago
- Indian Express
BMC cancels tender for water rescue vehicles over link to Turkey company
THE BRIHANMUMBAI Municipal Corporation (BMC) has decided to scrap a tender for acquiring six remote-controlled life buoys or robotic water rescue vehicles after it discovered that the vendor that won the bid to supply it was ultimately sourcing it from a Turkey-based firm. The civic body's move comes amid the recent conflict between India and Pakistan where the latter used drones supplied by Turkey to target India. Confirming the development, a senior BMC official said, 'The tender was floated last year and the shortlisting of bidders took place between January and February. All the bidders had submitted details of their vendors in their quotation. Since India had good ties with Turkey back then, we went ahead to shortlist the vendor. However, owing to the recent tensions, we decided to take a relook at the tender and refloat it.' The official said that while the supplier of the boat-like floating devices was shortlisted, the BMC had not issued any Letter of Approval (LoA) and therefore it had the legal right to roll the tender back. 'We shall be floating a new tender for acquiring the boats and we will also be exploring whether it is possible to have the products manufactured by India-based firms to propagate the Make-in-India campaign. It will also be cost-effective,' said the official. In September last year, the BMC had floated the tender to acquire six rescue boats which were to be used by the Mumbai Fire Brigade for operations in the sea. The cost of each boat was pegged at Rs 9.62 lakh while the total size of the tender was pegged at Rs 64 lakh, inclusive of taxes. Civic officials said that after the bidders submitted their responses, quotations were shortlisted. They said the shortlisted supplier was an Indian vendor who would acquire the product from Turkey based firm Maren Robotics and supply it to the civic body. In the website of Maren Robotics, the boats are branded as 'Maren Fasty — remote controlled and self propelled water rescue vehicle'. Sources said that multiple civic bodies in the Mumbai Metropolitan Region (MMR) have acquired these buoys from the same firm. These boats were to be deployed at the Girgaon, Dadar, Juhu, Versova, Gorai and Aksa beaches. Civic officials said that each of these boats would have a carrying capacity of 200 kg while the maximum operating speed would be 18 km per hour —nearly four times more than the manual lifeboats that the civic body uses.
Time of India
3 hours ago
- Time of India
B2B e-commerce startup Udaan raises $114mn
BENGALURU: B2B ecommerce platform Udaan raised $114 million, led by M&G Investments and Lightspeed. The Bengaluru-based company said the funds will be used to deepen its category presence, particularly in FMCG and staples. Udaan secured the latest funding at a valuation of about $1.8 billion (unchanged), people familiar with the matter told TOI. The company previously raised $340 million in 2023, led by UK-based M&G Prudential, at the same valuation, marking a notable decline from its peak valuation of $3.2 billion in 2021. The company said it posted over 60% year-on-year revenue growth in 2024. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Fibre2Fashion
3 hours ago
- Fibre2Fashion
American footwear retailer Shoe Carnival's sales drop 7.5% in Q1 FY25
The net sales of Shoe Carnival, a leading US-based retailer of footwear, declined 7.5 per cent to $277.7 million in the first quarter (Q1) of fiscal 2025 (FY25) as compared to $300.4 million in first quarter of 2024. Comparable stores net sales declined 8.1 per cent, of which the company estimates approximately 1 per cent was due to lost sales as impacted by the rebanner strategy. In the first quarter, the company's Shoe Station banner contributed a 4.9 per cent increase in net sales compared to the first quarter of 2024. These industry-leading results were primarily driven by double-digit comparable stores net sales growth from the company's rebanner strategy. The company's Shoe Carnival banner contributed a net sales decline of 10.0 per cent. First quarter 2025 net sales from Rogan's, which was acquired on February 13, 2024, were in-line with integration and synergy plans and exceeded $19 million in both first quarter of 2025 and first quarter of 2024, the company said in a press release. Gross profit margin was 34.5 per cent compared to 35.6 per cent in the first quarter of 2024. Gross profit margin included a 50 basis point increase in merchandise margin while buying, distribution and occupancy costs decreased gross profit margin by 160 basis points primarily due to deleverage from lower net sales. Selling, general, and administrative costs (SG&A) decreased $0.5 million in Q1. SG&A increases associated with the rebanner strategy were more than offset by the timing of selling expenses from other stores. As a per cent of net sales, SG&A were 30.2 per cent in first quarter 2025 compared to 28.1 per cent in first quarter 2024, with rebanner investment as the primary driver of this increase. 'Our first quarter results reflect the continued success of our strategic transformation, with profits outperforming expectations by approximately 10 per cent despite the challenging macroeconomic and retail environment,' said Mark Worden, president and chief executive officer . 'The Shoe Station growth strategy is working exceptionally well, delivering industry-leading sales growth and accretive margins across diverse market types. This consistent outperformance versus both Shoe Carnival and industry trends across all footwear categories has given us the confidence to accelerate our rebanner initiative.' 'Today, we're announcing an ambitious expansion of our rebanner strategy, with Shoe Station now expected to represent over 80 per cent of our store fleet by March 2027, up from our previous target of 51 per cent. We're making these investments from a position of financial strength, with growing cash reserves and no debt. This is a pivotal moment for our company as we transform from a traditional family footwear retailer to a premium brand-focused national leader in footwear,' Worden concluded. Fibre2Fashion News Desk (RR)
