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Saturday, July 31, 2021 8:19:21 PM
Hyundai Motor Group and LG Chem's LG Energy Solution announced their intention to establish a 50/50 joint venture to manufacture battery cells for electric cars in Indonesia.
Also see Mining.Com article and scroll down to paragraph 7
we see LG's intentions through 2030 are to spend US$13 billion by 2030 on expansion of facilities.
LG Energy said in a statement it plans to invest 15.1 trillion won (US$13B) by 2030, including 9.7 trillion won in R&D. It will build an institute in South Korea for training in battery technology, expected for completion in January 2023. The company said it has a backlog of EV battery orders worth over 180 trillion won (US$156 billion).
Reporting Live from Chile:
Bloonberg Reporter Karen Rodriquez: Senor Crystalballs, in the last 44 Bloonberg interviews here in your Chilean corporate office (including those spur-of-the-moment interviews in your ping-pong home gaming room and your kitchen at Chez Porky's Taco Barn) you have unequivocally miserably failed to give any shred of hope to your shareholders that you are talking to these lithium customers like Hyundai or LG on selling your Maricunga lithium to them to produce lithium batteries. With this monumental upcoming 45th Gigafactory opportunity now in Indonesia to sell lithium in a golden-opportunity "straight-shot" across the Pacific Ocean by you to LG is there finally after all this time focking-the-dog by you beaners any tiny cause for hope by your shareholders today?
Crystalballs: No.
Bloonberg Reporter Karen Rodriquez: My gosh... what on earth do you do all day with your time if not to find companies like Hyundai and LG to buy your lithium?
Crystalballs: We fock the dogs out back.
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