LG Energy Solutions is making all-out efforts to respond to IRA… Procurement of raw materials from Morocco

LG Energy Solutions is making all-out efforts to respond to IRA… Procurement of raw materials from Morocco: COMPANY / Reporter Paul Lee / 2023-04-05 23:14:30

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

LG에너지솔루션 (사진 = 연합뉴스)

[Alpha Biz=(Chicago) Reporter Paul Lee] LG Energy Solutions is making all-out efforts to strengthen its battery supply chain in response to the US IRA (Inflation Reduction Act).

Following the recent decision to invest 7.2 trillion won in Arizona, the U.S., to build a plant, the company has started to strengthen its lithium hydroxide supply chain, a key battery material.

LG Energy Solutions announced on the 5th that it has signed a memorandum of understanding (MOU) with China's lithium compound manufacturing leader Yahua to produce lithium hydroxide in Morocco, Africa.

Yahua is a leading Chinese lithium hydroxide manufacturer that supplies products to major battery makers around the world. The LG Energy Solution intends to secure high-quality lithium hydroxide by adding Yahwa's manufacturing quality technology to the existing stable raw material supply chain.

However, as it is still in the MOU stage, LG Energy Solutions explains that specific ways of cooperation with Yahua are under discussion. If Yahua smelting lithium ore in Morocco to produce lithium hydroxide, it is highly likely that LG Energy Solutions will be supplied with supplies.