SEOUL, October 11 (AJP) – South Korean petrochemical giant LG Chem has temporarily suspended construction of its fourth carbon nanotube plant, industry sources said, amid a slowdown in the electric vehicle (EV) battery market.
The facility in Daesan, South Chungcheong Province, was initially scheduled to begin operations in the first quarter of 2025 to supply carbon nanotubes to battery manufacturers, including LG Energy Solution.
The plant would be the largest in South Korea, with an annual production capacity of 3,200 tons.
LG Chem plans to resume construction of the plant based on future market conditions in the EV battery sector, the sources said.
Carbon nanotubes, known for their high electrical and thermal conductivity, are used in various applications, including EV batteries, conductive coatings and automotive exterior materials.
LG Chem halts construction of carbon nanotube plant amid EV market slowdown
By Kim Dong-young
Posted : October 11, 2024, 11:32
Updated : October 11, 2024, 13:19
