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SK On signs MOU with Global Lithium Resources to bolster key battery materials supply chain

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South Korea-based SK On (SKO), a global EV battery manufacturer, signed a Memorandum of Understanding (MOU) with Australia’s Global Lithium Resources to explore future business opportunities together in regard to stable supply of lithium. Map of Western Australia showing the location of Global Lithium’s assets.

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Volvo Construction Equipment investing $7.8M in battery pack production at excavator plant

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Volvo Construction Equipment (Volvo CE) announced an investment into battery pack production at its excavator plant in Changwon, South Korea. The Changwon plant in South Korea specializes in the production of excavators and is the biggest excavator production site in Volvo CE. With the SEK 80-million (around $7.8-million)

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Korea Gas Corporation to invest $4B in hydrogen production and distribution by 2030

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Korea Gas Corp. KOGAS), the state-run natural gas supplier and a major global importer of LNG, plans to spend 4.7 KOGAS said demand for hydrogen in South Korea will reach 1.94 to 4,500 won (US$3.89) per kilogram from the current range of 6,500 won to 7,500 won (US$5.62 trillion won (US$4.01 million tons by 2040.

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Qorvo and SK Siltron CSS enter long-term silicon carbide (SiC) supply agreement

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Qorvo, a global provider of connectivity and power solutions, and SK Siltron CSS, a semiconductor wafer manufacturer, finalized a multi-year supply agreement for silicon carbide (SiC) bare and epitaxial wafers.

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POSCO Chemical wins 10-year, $32.6B (40T won) order for NCA cathode materials from Samsung SDI batteries

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South Korea-based POSCO Chemical signed a contract to supply Samsung SDI with high-nickel NCA cathode materials for electric vehicle batteries for 10 years from this year to 2032. This 40-trillion won ($32.6-billion) billion) contract is the largest and longest-term order since the creation of POSCO Chemical.

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LG Chem to invest $3.2B to build NCMA cathode plant in Tennessee; 120,000 tpa

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million pure electric vehicles with a range of 310 miles (500 km) per charge. The Tennessee facility allows LG Chem to address the changing dynamics of the global battery material market and with legislation such as the “Inflation Reduction Act” (IRA). billion) in 2022 to KRW 20 trillion (US$14.7 billion) by 2027.

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Volvo CE investing $6.3M in Arvika factory for production of electric wheel loaders

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These announcements are part of an investment strategy that allows Volvo CE to advance electric solutions across its production facilities, including also the Konz facility in Germany, Belley in France and Changwon in South Korea, where other electric machines are made.

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