Latest news with #LGChem
Time of India
2 days ago
- Automotive
- Time of India
Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp'
Ola Electric on Friday launched its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event, held at the company's Gigafactory in Tamil Nadu. This was Ola 's first public showcase at the 107-acre lithium-ion cell manufacturing facility. The 4680 Bharat cell, available starting today, offers 10 per cent higher energy density and a battery life of around 15 years, the company claimed. It can be used in Ola vehicles, energy storage devices such as solar units, and even drones. Ola Electric also unveiled the new S1 Pro+ scooter , powered by the 4680 cell, with a top speed of 141 km/h and a promised range of 320 km. Its price has been cut from Rs 1,99,999 to Rs 1,69,999, with deliveries beginning September 22. The company announced Roadster X+, with the new cell and a range of 501 km. Its price has been cut from Rs 2,24,999 to Rs 1,89,999. Ola's second major announcement was a motor built with ferrite instead of neodymium, eliminating the need for rare earth magnets. These magnets, typically the strongest permanent magnets, have become a supply risk for India's auto industry as China tightens exports. 'The next generation of motor technology does not need rare earths. And your company has already built it,' said founder Bhavish Aggarwal at the event. The company also introduced MoveOS 6 , its upgraded operating system that follows MoveOS 5. The new version adds features such as a voice assistant, camera, customisable motor sounds, personalised ride insights, and speed boost. According to Ola, MoveOS 6 will improve energy efficiency by 15 per cent, reduce weight by 25 per cent, and cut costs by 43 per cent. These Gen4 upgrades are scheduled for release early next year. As part of the MoveOS 6 rollout, Ola will launch the S1 Pro Sport, a sport-segment scooter priced at Rs 1,49,999 (tentative), expected in January 2026. The company also revealed its upcoming electric bike, Diamond Head, targeted for mid-2027. Ola has hosted its annual event on August 15 since 2021, when it launched its first S1 electric scooter range. Last year, it introduced its first lineup of electric motorcycles under the Roadster brand, offered in three variants, Roadster Pro, Roadster, and Roadster X, with introductory prices ranging from Rs 74,999 to Rs 2,49,999. Within the Gigafactory, Ola aims to mass-produce its homegrown NMC 2170 lithium-ion cells. At present, it imports cells from LG Chem in South Korea for its electric scooters, according to reports. The latest announcements come as the company faces regulatory scrutiny and a sharp decline in market share. Ola's share in the electric two-wheeler segment has fallen from over 50 per cent a year ago to 16.8 per cent in the first two weeks of July, placing it behind TVS Motor and Bajaj Auto, ET reported on July 28. Financial pressures add to the challenge. Ola Electric reported a net loss of Rs 428 crore in the June quarter, compared to Rs 327 crore a year earlier, though narrower than the Rs 870 crore loss in the March quarter. The company posted operating revenue of Rs 611 crore in the March quarter. With the 4680 Bharat cell, rare earth-free motor , and new vehicle launches, Ola is betting on technology and in-house manufacturing to regain its edge in India's fast-growing EV market.
Economic Times
2 days ago
- Automotive
- Economic Times
Ola Electric showcases Bharat cell, rare earth-free motor at ‘Sankalp'
Company Images Ola Electric on Friday launched its first indigenously manufactured 4680 Bharat cell battery and a rare earth metal-free motor at its annual 'Sankalp' event, held at the company's Gigafactory in Tamil Nadu. This was Ola's first public showcase at the 107-acre lithium-ion cell manufacturing facility. The 4680 Bharat cell, available starting today, offers 10% higher energy density and a battery life of around 15 years, the company claimed. It can be used in Ola vehicles, energy storage devices such as solar units, and even drones. Ola Electric also unveiled the new S1 Pro+ scooter, powered by the 4680 cell, with a top speed of 141 km/h and a promised range of 501 km. Its price has been cut from Rs 1,99,999 to Rs 1,69,999, with deliveries beginning September 22. Ola's second major announcement was a motor built with ferrite instead of neodymium, eliminating the need for rare earth magnets. These magnets, typically the strongest permanent magnets, have become a supply risk for India's auto industry as China tightens exports. 'The next generation of motor technology does not need rare earths. And your company has already built it,' said founder Bhavish Aggarwal at the event. The company also introduced MoveOS 6, its upgraded operating system that follows MoveOS 5. The new version adds features such as a voice assistant, camera, customisable motor sounds, personalised ride insights, and speed boost. According to Ola, MoveOS 6 will improve energy efficiency by 15%, reduce weight by 25%, and cut costs by 43%. These Gen4 upgrades are scheduled for release early next year. As part of the MoveOS 6 rollout, Ola will launch the S1 Pro Sport, a sport-segment scooter priced at Rs 1,49,999 (tentative), expected in January 2026. The company also revealed its upcoming electric bike, Diamond Head, targeted for has hosted its annual event on August 15 since 2021, when it launched its first S1 electric scooter range. Last year, it introduced its first lineup of electric motorcycles under the Roadster brand, offered in three variants, Roadster Pro, Roadster, and Roadster X, with introductory prices ranging from Rs 74,999 to Rs 2,49, the Gigafactory, Ola aims to mass-produce its homegrown NMC 2170 lithium-ion cells. At present, it imports cells from LG Chem in South Korea for its electric scooters, according to latest announcements come as the company faces regulatory scrutiny and a sharp decline in market share. Ola's share in the electric two-wheeler segment has fallen from over 50% a year ago to 16.8% in the first two weeks of July, placing it behind TVS Motor and Bajaj Auto, ET reported on July pressures add to the challenge. Ola Electric reported a net loss of Rs 428 crore in the June quarter, compared to Rs 327 crore a year earlier, though narrower than the Rs 870 crore loss in the March quarter. The company posted operating revenue of Rs 611 crore in the March quarter. With the 4680 Bharat cell, rare earth-free motor, and new vehicle launches, Ola is betting on technology and in-house manufacturing to regain its edge in India's fast-growing EV market. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
Yahoo
04-08-2025
- Automotive
- Yahoo
LG Chem and Enilive begin construction on fuel plant in South Korea
LG Chem and Enilive, a subsidiary of Eni, have commenced construction on South Korea's reportedly inaugural hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) production facility. The plant is located within LG Chem's Daesan Chemical Complex in Seosan, Chungcheongnam-do, approximately 80km south-west of capital Seoul. The joint venture, LG-Eni BioRefining, is overseeing the project, which aims for completion by 2027. Upon completion, the facility will process around 400,000 tons (t) of renewable bio-feedstock annually. The demand for HVO and SAF is anticipated to increase due to global renewable fuel mandates. The fuels are produced by hydrogenating sustainable vegetable oils such as used cooking oil and other waste residues, using Ecofining technology developed by Eni in collaboration with Honeywell UOP. Compared to traditional fossil fuels, HVO and SAF significantly reduce greenhouse gas emissions across the entire product value chain. LG Chem CEO Shin Hak-cheol said: 'LG Chem is transforming its portfolio to build a low-carbon foundation that ensures both a progressively more sustainable growth and profitability. 'By advancing innovation in renewable fuels and biobased feedstocks like HVO, we aim to strengthen our global competitiveness and meet our customers' evolving needs efficiently.' The establishment of this facility marks a significant move for LG Chem in the renewable energy sector. By integrating HVO into its supply chain, the company aims to broaden its range of International Sustainability and Carbon Certification PLUS-certified products. These products target applications in various sectors, including acrylonitrile butadiene styrene for electronics and cars, ethylene-vinyl acetate for sporting goods, and superabsorbent polymers for hygiene products. Enilive CEO Stefano Ballista said: 'The Seosan biorefinery breaking ground reaffirms Enilive's strategy in offering increasingly sustainable products and our company's position as a leader in biofuels production. 'Together with the plants that are already operational in Italy and in the US, and with new biorefining plants under construction in Italy and Malaysia, the upcoming biorefining plant in Daesan will contribute to reach our 2030 target to increase our biorefining capacity to over five million tons per year, with the potential to produce more than two million tons per year of SAF.' "LG Chem and Enilive begin construction on fuel plant in South Korea" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
04-08-2025
- Automotive
- Korea Herald
LG Chem begins construction of Korea's first 'green diesel' plant
LG Chem has begun construction on Korea's first hydrotreated vegetable oil production facility, furthering the company's strategy to bring the supply of eco-friendly raw materials in-house amid rising global demand for sustainable alternatives. The company announced Monday that construction has started on the HVO plant in Seosan, South Chungcheong Province. Once completed in 2027, the facility is expected to produce 300,000 tons of HVO annually. HVO, sometimes called green diesel, is produced by using hydrogen to break down vegetable oils, particularly used cooking oil, into smaller molecules. The concept is similar to biodiesel but the different chemistry of the resulting fuel means it is more stable and performs better at low temperatures. While HVO has around 10 percent lower energy density than petroleum diesel, its proponents claim it can reduce carbon emissions by up to 90 percent. It is used in various applications, including sustainable aviation fuel, car fuel and bio-naphtha — a versatile feedstock in the chemical industry. LG Chem plans to utilize HVO not only for biofuel production but also to expand its eco-friendly plastics business, which it sees as a core driver of future growth. The company aims to convert bio-naphtha into high-performance plastics used in home appliances, automobiles, sporting goods and hygiene products. 'LG Chem is transforming its business portfolio toward low-carbon models, aiming for both sustainable growth and improved profitability,' said LG Chem CEO Shin Hak-cheol. 'We will continue to drive technological innovation and commercialization in eco-friendly fuel and bio-resources, including HVO, to strengthen our global competitiveness and respond proactively to customer demand.' The Seosan facility is being developed through a 50:50 joint venture with Italian energy firm Eni, which currently produces 2 million tons of HVO annually at its facilities in Italy and has an extensive global supply network. An LG Chem official said the new facility will provide the company with more affordable access to bio-based feedstocks for its chemical manufacturing operations, which until now have largely relied on imports from global suppliers. Competition to secure sustainable raw materials is intensifying worldwide, as companies seek to meet growing customer expectations and regulatory requirements. According to Fortune Business Insights, the global HVO market is expected to grow at a compound annual growth rate of around 8.2 percent, expanding from approximately $21.36 billion in 2025 to $36.86 billion by 2032.
Yahoo
28-07-2025
- Automotive
- Yahoo
LGES signs new copper foil deal with SK Nexilis
South Korea's SK Nexilis Company has agreed to supply local battery electric vehicle (EV) manufacturer LG Energy Solution Company (LGES) with up to KRW 3 trillion (US$ 2.2 billion) worth of copper foil over the next 5-6 years, according to unconfirmed local reports. Copper foil is a key component of EV batteries, used mainly as separator material between cathodes and anodes. This is understood to have been the first deal signed between the two companies in the last five years, after LGES and LG Chem ceased signing new business with SK Group's SK On, SK Nexilis and SKIET, following a dispute over alleged leaks of trade secrets in 2020. Local officials have suggested that the thaw in relations between the two sides is due mainly to growing pressure for South Korea battery manufacturers to reduce their dependence on Chinese supply chains, as they look to expand their businesses in the US. A local industry official told reporters the relationship between the two companies 'has improved under the current management. The Trump administration's supply chain policy of decoupling from China led them to renew their supply deal.' An SK Nexilis official confirmed that his company had held new talks with LGES, but did not confirm the agreement. "LGES signs new copper foil deal with SK Nexilis" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
