On April 10, 2018, BMZ GmbH entered into a long-term agreement with LG Chem Ltd., the world's one of the largest cell manufacturer based in Korea, for the supply of a few hundred million lithium ion cells by the end of 2022. "This provides our customers with long-term security of supply for their products based on lithium-ion technology," explains Sven Bauer, CEO & Founder of the BMZ Group based in Karlstein a.M. (Bavaria). “Establishing LTA between BMZ and LG Chem has entailed long-lasting cooperation upon mutual trust and partnership and will be pivotal point for both companies to further expand domain within Europe”, said Youngsun Kim, Vice President of LG Chem Ltd., Korea.
Cell supply crucial for electromobility and energy storage market
Lithium-ion technology has higher energy density and specific energy compared to other battery systems available today. The battery cell is the heart of the battery. Manufacturers, suppliers, machinery and plant manufacturers are fighting internationally for pole position in electromobility and stationary energy storage systems. If one assumes the entire vehicle market, there is an enormous market potential worldwide for electromobility and thus lithium-ion batteries. Access to powerful and cost-effective battery cells is crucial.
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The company was founded in 1947 and now employs over 29,000 staff globally. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and lithium ion batteries. With over 20 years’ experience of development and production of these batteries LG Chem has established themselves as one of the world’s leading Lithium-ion manufacturers. The company is a primary supplier of lithium batteries throughout the world for the mobile phone and hybrid/electric vehicle industries & Energy Storage System (ESS).
For further information about LG Chem, visit http://www.lgchem.com/global/main
Cell supply crucial for electromobility and energy storage market
Lithium-ion technology has higher energy density and specific energy compared to other battery systems available today. The battery cell is the heart of the battery. Manufacturers, suppliers, machinery and plant manufacturers are fighting internationally for pole position in electromobility and stationary energy storage systems. If one assumes the entire vehicle market, there is an enormous market potential worldwide for electromobility and thus lithium-ion batteries. Access to powerful and cost-effective battery cells is crucial.
About LG Chem
LG Chem, Ltd. is Korea’s largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The company was founded in 1947 and now employs over 29,000 staff globally. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and lithium ion batteries. With over 20 years’ experience of development and production of these batteries LG Chem has established themselves as one of the world’s leading Lithium-ion manufacturers. The company is a primary supplier of lithium batteries throughout the world for the mobile phone and hybrid/electric vehicle industries & Energy Storage System (ESS).
For further information about LG Chem, visit http://www.lgchem.com/global/main
