051910.KS - LG Chem, Ltd.

KSE - KSE Delayed Price. Currency in KRW
395,000.00
-12,000.00 (-2.95%)
At close: 3:30PM KST
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Previous Close407,000.00
Open392,000.00
Bid392,000.00 x 0
Ask392,500.00 x 0
Day's Range391,500.00 - 400,000.00
52 Week Range286,500.00 - 422,500.00
Volume462,333
Avg. Volume280,309
Market Cap28.765T
Beta (5Y Monthly)0.80
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateApr 22, 2020 - Apr 28, 2020
Forward Dividend & Yield2,000.00 (0.49%)
Ex-Dividend DateDec 27, 2019
1y Target Est453,379.00
  • U.S. panel favors LG Chem in trade secrets case with SK Innovation
    Autoblog

    U.S. panel favors LG Chem in trade secrets case with SK Innovation

    A U.S. trade panel preliminarily ruled in favor of South Korean electric vehicle (EV) battery maker LG Chem, which had accused crosstown rival SK Innovation of misappropriating trade secrets, the companies said on Sunday. LG Chem and SK Innovation have hit each other with U.S. lawsuits for thefts of trade secrets and patent infringements in a bitter row that threatens to disrupt the launches of EVs by some of the world’s biggest carmakers. The so-called default judgment by the U.S. International Trade Commission (ITC) could potentially mean SK Innovation, as sought by LG Chem, cannot import some battery products, components and materials it may need to supply its U.S. factories for Volkswagen and Ford.

  • Reuters

    LG Chem says U.S. panel's interim ruling favours it in SK trade secrets case

    A U.S. trade panel ruled on an interim basis in favour of South Korean electric vehicle (EV) battery maker LG Chem which had accused crosstown rival SK Innovation of misappropriating trade secrets, LG Chem said on Sunday. LG Chem and SK Innovation have hit each other with U.S. lawsuits for thefts of trade secrets and patent infringements in a bitter row that threatens to disrupt the launches of EVs by some of the world's biggest car makers. The so-called default judgment by the U.S. International Trade Commission (ITC) could potentially mean SK Innovation, as sought by LG Chem, cannot import some battery products, components and materials it may need to supply its U.S. factories for Volkswagen and Ford Motors.

  • Europe Pushes on With Gigafactory Plan to Rival Tesla
    Bloomberg

    Europe Pushes on With Gigafactory Plan to Rival Tesla

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Germany and France set out a blueprint for a giant battery factory, advancing Europe’s 5 billion euro ($5.5 billion) bid to rival the capacity of Tesla Inc. China to supply the key part for electric vehicles.The announcement at Germany’s Economy and Energy Ministry units underscores determination by European Union nations to catch up with Asian competitors that dominate battery making. Battery cells and add-on electronic devices and software make up as much as half the value of EVs.The facility at Groupe PSA-Opel’s site in Kaiserslautern involves Total SA’s Saft Groupe in a plant that will be named the Automotive Cell Co. The plant will cost about 2 billion euros and will complement a French factory in the Hauts de France region.Germany and France “want to build the best and most sustainable batteries” in Europe, Economy and Energy Minister Peter Altmaier said in a statement from Berlin on Friday. “I’m convinced that battery cells made in Kaiserslautern will set new standards in their CO2 footprint.”Together, the factories will cost about 5 billion euros add production capacity to 48 gigawatt-hours of batteries.Backed by the European Commission, France and Germany dangled subsidies to win over sketics within the auto industry about investing in the technology. While German companies such as Volkswagen AG and BMW AG dominate car manufacturing in Europe, they’ve allowed Asian companies and Tesla to take the lead on making batteries.Contemporary Amperex Technology Co., or CATL, and BYD Co. Ltd. of China are among the leaders in making lithium-ion battery cells, while Tesla has invested in a string of “gigafactories” to supply its luxury electric cars.The European governments also aim to incorporate tighter emission standards in production and recycling stipulations, which may create hurdles for Asian products. European battery cells “won’t be comparable with cheap Chinese products,” Altmaier said last year.The Kaiserslautern factory will be up and running by 2024 and employ 2000 people, Opel’s management board head Michael Lohscheller said. The German and French cell production sites may serve 10% to 15% of demand in Europe, said Altmaier. Germany alone is targeting 7 million to 10 million electric cars on its roads by 2030.Some 13.8 million jobs representing 6.1% of the workforce may be linked to auto manufacturing in the EU. The market for battery cells may be worth as much as 250 billion euros by mid-decade, the EU Commission said.Still, the competition from Asia is likely to be tough.CATL has gained a foothold in Germany in a factory in Thueringia state with a plant with 16 gigawatt-hours of capacity. In 2018, the Chinese company said it aims to be close to the market for for production sites of BMW AG, Volkswagen AG and Daimler AG.LG Chem Ltd is building a battery cell gigafactory in Poland, close to Eastern German car production sites. Tesla Inc. said in November that it will open an electric car production site on the outskirts of Berlin, and Northvolt AB is building a plant in Sweden.(Fixes reference in third paragraph to show factory is at a site, not near headquarters.)To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.netTo contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Lars PaulssonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    With Tesla stock envy, GM hopes to sell investors on its EV, tech future

    General Motors Co has watched with frustration and envy as the market value of electric carmaker Tesla Inc has ballooned to more than triple GM's size, but Wednesday the Detroit automaker is expected to make the case that its EV and self-driving technology strategy deserves a higher value. GM Chief Executive Mary Barra and her top executives will host an investor conference in New York. Barra has been restructuring GM's operations and stressing her goals of readying GM for a future of "zero emissions and zero accidents" for several years.

  • Another day, another record: Tesla shares march toward $1,000
    Reuters

    Another day, another record: Tesla shares march toward $1,000

    The latest surge was partly fuelled by Panasonic Corp saying on Monday its automotive battery venture with Tesla was in the black for the first time. "Investors are now starting to believe that Tesla can make mass-volume electric vehicles, and automakers, battery makers and suppliers can make money from EVs," said Cho Hyun-ryul, analyst at Samsung Securities. Short interest in Tesla stood at 13.8% as of Jan. 30, according to Refinitiv data.

  • Tesla partners with LG Chem, CATL for battery supply
    Reuters

    Tesla partners with LG Chem, CATL for battery supply

    Tesla, which has a long-standing battery supply agreement with Japan's Panasonic Corp , said its pact with LG Chem and CATL was at a smaller scale. LG Chem declined to comment, while CATL did not respond to Reuters' requests for comment.

  • Reuters

    Lordstown Motors pursuing $200 mln U.S. retooling loan, will show EV truck at Detroit show -CEO

    Electric pickup truck start-up Lordstown Motors is pursuing a $200 million loan from a U.S. Energy Department program to retool a former General Motors factory in northeast Ohio, Chief Executive Steve Burns told Reuters. Burns met with Energy Secretary Dan Brouillette on Monday for about an hour and the company was holding additional talks with officials on Tuesday from the Energy Department's Loan Program Office. Burns disclosed the company plans to unveil a drivable version of its electric truck at the Detroit auto show in June.

  • Daimler denies battery supply problems, plans to build 50,000 EQCs this year
    Autoblog

    Daimler denies battery supply problems, plans to build 50,000 EQCs this year

    Daimler on Thursday said it plans to build 50,000 Mercedes EQC electric cars this year, denying a report in Manager Magazin that claimed it had been forced to pare back its 2020 production targets due to battery supply problems. Manager Magazin said Mercedes had slashed its production target to 30,000 from about 60,000 because of a shortage of battery cells from LG Chem. Daimler wanted to sell around 25,000 EQC vehicles in 2019, but only managed to build around 7,000 for the same reason, Manager Magazin said.

  • Daimler to build 50,000 Mercedes EQC models this year
    Reuters

    Daimler to build 50,000 Mercedes EQC models this year

    Daimler on Thursday said it plans to build 50,000 Mercedes EQC electric cars this year, denying a report in Manager Magazin which claimed it had been forced to pare back its 2020 production targets due to battery supply problems. Manager Magazin said Mercedes had slashed its production target to 30,000 from about 60,000 because of a shortage of battery cells from LG Chem .

  • Reuters

    Mercedes halves EV production target due to battery shortage - Manager Magazin

    Daimler has been forced to reduce production targets for its Mercedes-Benz EQC electric car from about 60,000 to 30,000 this year, due to a supply shortage of battery cells from LG Chem, Manager Magazin said on Thursday. Daimler wanted to sell around 25,000 EQC vehicles in 2019, but only managed to build around 7,000 Manager Magazin said. Daimler was not immediately available for comment.

  • Aston Martin Is a Binge Too Far for China’s Geely
    Bloomberg

    Aston Martin Is a Binge Too Far for China’s Geely

    (Bloomberg Opinion) -- Timing is everything in investing, a refrain the ambitious Li Shufu might want to heed.The Geely Group has held preliminary talks about a possible investment in Aston Martin Lagonda Global Holdings Plc, the high-end but encumbered British carmaker of James Bond fame. Billionaire Lawrence Stroll, owner of the Racing Point Formula One team, is also among the investors looking to pump in fresh capital. At first blush, this isn’t surprising. Struggling to dent the world market with Geely Automobile Holdings Ltd.’s(1) own vehicles, the Chinese auto executive has developed a modus operandi of appearing to ascend the value chain by picking up marquee brands, financially precarious though they may be. Through his holding company Zhejiang Geely Holding Group, Li splashed out $9 billion to build a 9.7% stake in Mercedes Benz-maker Daimler AG in 2018. Zhejiang Geely owns or has stakes in Volvo AB, Lotus Cars, Malaysia’s Proton Holdings Bhd and even a flying car company, Terrafugia Inc., either directly or through its subsidiaries.Li is trying to stay ahead of the expensive technology curve. Earlier this month, Geely set up a joint venture with Daimler to make the electric version of Smart cars in China. The company has an electric vehicle battery joint venture with South Korea’s LG Chem Ltd. Geely has also used Volvo Car Group in a joint venture to subsidize Lynk  & Co., a more upmarket version of Geely’s homegrown brands that’s so far sold primarily in China.So, Aston Martin seems to fits in. But this time, Li has more to consider: business at home. Geely Auto sold 1.36 million cars last year, posting $2.8 billion in profit for the 12 months to June 30, but the Chinese market is struggling to find a footing. Retail car sales tumbled more than 7% in 2019, with production down 9.5%. All told, sales in the world’s largest car market are shrinking and the competition to survive is getting stiffer.  The outlook is grim. While new car buyers accounted for two-thirds of sales over the last five years, the next five will likely be driven by replacement demand, Goldman Sachs Group Inc. forecasts. To keep up with upgrading consumers, most automakers, including Geely, are rolling out new models of multi-purpose vehicles (the category that lies between SUVs and family vans).  Sure, Geely is investing in a future of  electric cars, but the costs for mass adoption remain high. Geely has done better through the downturn by maintaining a fine balance between production, sales and inventory. But it has had to slash sales targets, moving further away from its goal of selling 2 million vehicles by 2020. While Lynk sales volumes rose, net profit fell. Research and development costs continue to climb. Geely remains exposed to lower-tier cities, where demand has cratered.Vanity buying is best saved for more upbeat times. Investing in Aston Martin will be a cash sink, premium brand or not. Low as the price may be, a stake won’t add value to Li’s auto portfolio any time soon given its debt burden and a struggling core business. The Geely group should have other priorities, especially its finances. Debt at Zhejiang Geely totaled 136 billion yuan ($19 billion) at the end of September 2019, up from 92 billion yuan a year earlier. Previous stake purchases have come with leverage. To buy Daimler, for instance, Geely took to using complex derivatives. Its ratio of net debt to earnings before interest, tax, depreciation and amortization rose to 1.4 times in 2018 from 0.6 times in 2017, according to S&P Global Intelligence, because it took on a fair amount of debt to fund the acquisition of its 8% stake in Volvo AB. The credit rater estimated that the leverage ratio could rise further on lower sales and shrinking margins. Meanwhile, the parent actively supports various operations at subsidiaries.Geely may find the slow lane is best for now. (1) 44.1% owned by Zhejiang Geely Holding Co.To contact the author of this story: Anjani Trivedi at atrivedi39@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Anjani Trivedi is a Bloomberg Opinion columnist covering industrial companies in Asia. She previously worked for the Wall Street Journal. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    A 60% Tumble for Sage Therapeutics, and Two More Numbers to Know

    Another biotech company, (ACAD) (ACAD), also saw its stock jump 14%. There is sure to be more big biotech news coming up. It makes sense for GM to pair up with LG Chem (051910.Korea), rather than go it alone.

  • UPDATE 8-GM, LG Chem to build $2.3 bln electric vehicle battery plant in Ohio
    Reuters

    UPDATE 8-GM, LG Chem to build $2.3 bln electric vehicle battery plant in Ohio

    General Motors Co and South Korea's LG Chem said on Thursday they will invest $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio, creating one of the world's largest battery facilities. The plant, to be built near GM's closed assembly plant in Lordstown in northeast Ohio, will employ more than 1,100 people, the companies said.

  • GM, Korea’s LG Chem to build electric-vehicle battery factory in Ohio
    MarketWatch

    GM, Korea’s LG Chem to build electric-vehicle battery factory in Ohio

    General Motors and Korea’s LG Chem have formed a joint venture to build an electric vehicle battery cell factory near Lordstown, Ohio, east of Cleveland.

  • Barrons.com

    GM and LG Pair Up for Electric Vehicles. Here’s What That Means For Tesla.

    Competition is heating up. Alliances are forming in the nascent electric-car wars and the new joint ventures demonstrate that stalwart car companies are preparing for an all-electric future.

  • GM, LG Chem to invest $2.3 billion in EV battery joint venture
    TechCrunch

    GM, LG Chem to invest $2.3 billion in EV battery joint venture

    GM chairman and CEO Mary Barra said Thursday morning that the automaker is forming a joint venture with LG Chem to mass produce battery cells for its electric vehicles, a portfolio that will include a new battery-electric truck coming in the fall of 2021. The two companies said they will invest up to a total of $2.3 billion into the new joint venture and will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs. GM has used LG Chem as a lithium-ion and electronics supplier for at least a decade.

  • GM, LG Chem announce EV battery joint venture in Lordstown, Ohio
    Autoblog

    GM, LG Chem announce EV battery joint venture in Lordstown, Ohio

    SEOUL/WASHINGTON — General Motors and South Korea's LG Chem said on Thursday they would invest up to $2.3 billion in by 2023 to set up an electric vehicle battery joint venture in Lordstown, Ohio. GM issued an announcement Thursday. An LG Chem spokesman confirmed an earlier Reuters report on the joint venture, but declined to give details.

  • TheStreet.com

    GM, LG Chem Form $2.3B Electric-Vehicle-Battery Venture in Ohio

    The venture, expected to create more than 1,100 jobs, is designed to speed GM's introduction of new electric vehicles

  • Benzinga

    GM And LG Chem To Launch EV Battery Factory In Ohio: Sources

    General Motors Company (NYSE: GM) could form a joint venture with South Korean chemical company LG Chem Ltd. to manufacture electric vehicle batteries in Ohio, unnamed sources said to Reuters. Reliable sources told Reuters that General Motors and LG Chem are all set to announce a 50:50 joint venture on Thursday.

  • GM, LG Chem to build $2.3 billion electric vehicle battery plant in Ohio
    Reuters

    GM, LG Chem to build $2.3 billion electric vehicle battery plant in Ohio

    General Motors Co and South Korea's LG Chem said on Thursday they will invest $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio, creating one of the world's largest battery facilities. The plant, to be built near GM's closed assembly plant in Lordstown in northeast Ohio, will employ more than 1,100 people, the companies said.