Hanwha Qcells, a division of Hanwha Solutions specializing in solar energy, has started construction on a solar power project totaling 267 megawatts in the United States. On Wednesday, Hanwha Qcells announced its partnership with the Platte River Power Authority, a US public power provider, to launch the full-scale construction of a new solar plant in Weld County, Colorado. Hanwha Qcells is responsible for the project's engineering, procurement and construction, ensuring a streamlined proce

Industry July 11, 2024

Starting in 2027, consumers in Korea can look forward to purchasing more affordable electric vehicles equipped with reconditioned and tested used batteries. The Korean government, during a meeting chaired by Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok on Wednesday, unveiled a plan to support the used battery industry, announcing a series of laws, systems, and infrastructure projects. This initiative aims to tackle the growing environmental issue of waste batteries by

Mobility July 10, 2024

The global battery industry is showing signs of a comeback amid a challenging market, with LG Energy Solution as one of the companies leading the charge. Their advanced nickel-manganese-cobalt batteries, typically reserved for pricier electric vehicles, are set to power upcoming mass-market models such as Kia’s EV3 and General Motors’s Chevrolet Equinox EV, setting the stage for a new era of affordable, high-performance electric vehicles. The past year has been tough for the EV batte

Mobility July 9, 2024

Renault Korea, the Korean subsidiary of French carmaker Renault S.A., is grappling with a backlash over promotional videos that included a controversial finger-pinching gesture perceived as offensive towards men in South Korea. This gesture has a charged history here, as previous backlashes against it appearing on other content have threatened the sales and reputations of companies and even government institutions. In a video promoting the carmaker's new Renault Grand Koleos vehicle, posted

Mobility July 7, 2024

Cho Hyun-moon, former vice president of Korea's industrial chaebol Hyosung and the estranged second son of the late founder Cho Suck-rai, announced on Friday his decision to donate his entire inheritance to charity in hopes of ending the feud with his brothers. "I’ve set up a public trust and will donate every penny of the inheritance left to me by the late honorary chairman. I hope my brothers will support this initiative," Cho stated at a press conference in Gangnam, Seoul

Companies July 5, 2024

Samsung SDI is set to supply energy storage solution batteries worth 1 trillion won ($724 million) to NextEra Energy, the largest electric utility in the United States. Industry sources report that Samsung SDI is finalizing a contract to provide batteries with a total capacity of 6.3 gigawatt-hours to NextEra Energy. This supply is equivalent to 11.5 percent of North America's total energy storage solution capacity of 55 GWh last year. The key product in this deal is the Samsung Battery Box

Industry July 5, 2024

Hyundai Motor Group has launched a new joint battery cell manufacturing facility with LG Energy Solution in Indonesia, set to supply cells for Hyundai's upcoming Kona Electric. This makes Hyundai the first automaker in Indonesia with a fully localized production ecosystem for electric vehicles, spanning from battery cells to finished vehicles. Hyundai Motor Group celebrated the opening of the joint HLI Green Power plant in Indonesia's Karawang New Industry City on Wednesday. The event,

Mobility July 3, 2024

LG Energy Solution, South Korea's largest electric vehicle battery maker, has secured its first major order for lithium-iron-phosphate batteries from French auto giant Renault Group's EV unit Ampere. The contract, announced in Paris on Monday, will see LG Energy Solution supplying pouch LFP batteries for Renault’s next-generation electric vehicles over five years, from late 2025 to 2030. It involves producing about 39 gigawatt-hours of batteries, enough to power approximately 5

Mobility July 2, 2024

Porsche Korea previewed the brand's first all-electric sport utility vehicle, the Macan Electric, in Korea during a media event at Porsche Studio Songpa in southeastern Seoul on Monday. “We are thrilled to announce that the all-electric Macan will be arriving in Korea later this year. It encapsulates the classic Porsche sports car experience in an electric SUV format with extensive range and practicality for the everyday driver,” said Holger Gerrmann, CEO of Porsche Korea at the

Mobility June 26, 2024

Fire accidents involving lithium batteries, like the one at Korean lithium battery manufacturer Aricell's facility, are challenging to extinguish due to the batteries’ potential for water to exacerbate the situation. Primary, or single-use, lithium batteries differ from more commonly known lithium-ion batteries in several fundamental ways. They use lithium metal or lithium compounds as the anode and are ready-charged and non-rechargeable. While they do not suffer from issues like th

Social Affairs June 24, 2024

LS Cable & System, one of the world’s leading cable manufacturers, said Monday that it will provide high-capacity power distribution bus ducts for NextStar Energy’s new battery plant in the Canadian province of Ontario. NextStar Energy, a partnership between LG Energy Solution and Stellantis, is building a large electric vehicle battery factory in Windsor, Ontario. Bus ducts are metal-enclosed systems that house conductive plates to efficiently distribute high-capacity electric

Mobility June 24, 2024

South Korean conglomerate Hanwha Group has acquired Philly Shipyard for $100 million, making it the first Korean company to enter the US shipbuilding industry. Announced on Friday, the acquisition involves Hanwha Systems holding a 60 percent stake and Hanwha Ocean a 40 percent stake. These subsidiaries specialize in defense and shipbuilding, respectively. Philly Shipyard, located in Philadelphia, constructs commercial vessels in compliance with the Jones Act, which mandates that goods transpor

Industry June 21, 2024

Hanwha Qcells, the solar energy division of Korean energy company Hanwha Solutions, has signed a significant agreement with US commercial solar developer Summit Ridge Energy to supply 2 gigawatts of solar modules by 2027 for community solar projects and collaborate on energy storage systems. This new agreement marks the largest community solar partnership in US history, building on a previous 1.2 GW partnership announced in April last year when US Vice President Kamala Harris visited Hanwha Qc

Industry June 21, 2024

South Korea’s construction equipment trio -- HD Hyundai Construction Equipment, HD Hyundai Infracore and Doosan Bobcat -- are ramping up their efforts to penetrate emerging markets. While North America and Europe continue to be major revenue sources, they are investing more in local production and distribution networks of high-growth countries such as India, Brazil and Mexico, where infrastructure development is booming and demand for relatively larger construction machinery is surging.

Industry June 20, 2024

Hyundai Motor Group Metaplant America, Hyundai Motor Group’s new electric vehicle plant in Georgia, will begin production later this year, allowing the automaker to leverage the Inflation Reduction Act benefits to better compete in the US EV market. Hyundai announced Wednesday that the inaugural model to be produced at the Georgia plant will be the 2025 Ioniq 5. This launch, set for the fourth quarter, marks Hyundai’s first official statement on the operational timeline and specifi

Mobility June 20, 2024