The South Korean chemical company Lotte Chemical, together with Lotte Aluminium, is building a factory in the US state of Kentucky for the production of cathode foils for use in batteries for electric vehicles. The factory in Hardin County is scheduled to go into operation in 2025 and produce 36,000 tonnes of cathode foils.
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Battery startup Soelect, backed by General Motors, among others, and South Korean chemical company Lotte Chemical plan to invest more than $200 million in a joint venture to build a factory for battery materials for use in electric vehicles in the US by 2025.
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General Motors’ investment arm GM Ventures, is among the investors in a US startup developing fast-charging lithium-metal batteries for electric vehicles, the company said Thursday. Soelect raised $11 million from GM Ventures, KTB Network and Lotte Ventures, an affiliate of Korea’s Lotte Chemical.
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