LG Chem and Huayou Group to Establish Battery Materials Plants in Indonesia and Morocco
LG Chem, a South Korean chemical maker, has partnered with China's Huayou Group's subsidiary Youshan to build a joint electric vehicle battery material plant in Morocco. The plant, set to start production in 2026, aims to produce 50,000 tonnes of lithium-phosphate-iron (LFP) cathode materials annually. LG Chem is entering the LFP cathode business to meet the growing demand for cheaper LFP batteries as the auto industry seeks to produce more affordable electric vehicles. LG Chem also plans to build two other facilities in Indonesia, including a precursor plant and a plant for extracting mixed hydroxide from nickel ore.