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Supply agreement will last over five years and total 67GWh. 4695 cells, offering a long range and high safety, will be produced in the U.S. Batteries will power Rivian's R2 model for the North American market. SEOUL, South Korea, Nov. 8, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced that LG Energy Solution Arizona, a fully owned subsidiary of LG Energy Solution, has signed a supply agreement with Rivian, a U.S.-based automotive manufacturer. Under the agreement, LG Energy Solution will provide Rivian with its advanced 4695 cylindrical batteries for over five years, totaling 67GWh. With a diameter of 46mm and height of 95mm, the next-generation 4695 cylindrical battery is recognized for offering both a long range and high safety. It features over six times the capacity of the existing 2170 cylindrical batteries. Its larger size enables higher energy density, improved space efficiency, and enhanced safety, which is attracting industry-wide attention. Within the first year of production, the batteries will be eventually manufactured at LG Energy Solution's stand-alone plant in Arizona, and delivered to Rivian's facility in Normal, Illinois, for use in the R2 model for the North American market. LG Energy Solution has been advancing its cylindrical battery technology over the past 20 years, supported by its extensive manufacturing experience and broad patent portfolio. The supply agreement with Rivian is expected to further strengthen LG Energy Solution's presence in the U.S. market and its plans to actively respond to the IRA by developing and supplying competitive battery cells in a timely manner while expanding into new markets. Given the strong interest from automakers in its 46-series cylindrical batteries, LG Energy Solution also expects to extend its leadership in this growing sector. "Due to the dynamic nature of the current EV market, an increasing number of global automakers are demonstrating a strong preference for a diverse range of battery form factors," said David Kim, CEO of LG Energy Solution. "This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its client base within the cylindrical battery segment." About LG Energy Solution LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network, which spans North America, Europe, and Asia, includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem, LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations, visit https://news.lgensol.com.
The facility caters to high-tech end-user industries, such as Aerospace, Healthcare, 5G, Artificial Intelligence (AI) and Electric Vehicles (EV)SINGAPORE - Media OutReach Newswire - 7 November 2024 - SABIC, a global diversified chemicals company, today announced the official launch of its new US$170 (S$220) million ULTEM™ resin manufacturing facility in Singapore, marking the company's first advanced specialty chemical manufacturing facility in the region producing the high-performance thermoplastic, ULTEM™ resin. The new facility is a strategic move to support SABIC's goal of increasing global ULTEM™ specialty resin production by more than 50%, responding to the growing demand from high-tech and manufacturing industries in the Asia-Pacific region, including Japan and China. SABIC ULTEM Official Opening The facility opening was officiated by Ms. Low Yen Ling, Senior Minister of State for the Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth (MCCY), Eng. Khalid H. Al-Dabbagh, Chairman of the Board of Directors of SABIC, Eng. Abdulrahman Al-Fageeh, SABIC Chief Executive Officer, and Mr. Omar Al-Harthi, Deputy Head of Mission, Embassy of the Kingdom of Saudi Arabia in Singapore. Supported by the Singapore Economic Development Board (EDB), the new Singapore facility reinforces SABIC's commitment to localize a reliable supply of high performance materials that support complex and demanding supply chain requirements. Ms. Low Yen Ling, Senior Minister of State for the Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth (MCCY) said, "The opening of SABIC's new facility underscores Singapore's role as a leading hub in the Energy & Chemicals sector, and positions us to meet the rapidly evolving demands of high-tech industries across Asia." Eng. Abdulrahman Al-Fageeh, CEO, SABIC said, "We're excited to leverage SABIC's advanced manufacturing capabilities to produce one of the world's most advanced plastics in Singapore. The ULTEM resin facility reflects our long-term commitment to the region's high-tech economies and advanced manufacturing sectors, supporting the growth of advanced applications. Singapore's widely networked trade agreements also provides us with competitive access to markets in the region." Lim Wey Len, Executive Vice President, Singapore Economic Development Board said, "The opening of SABIC's new ULTEM plant reflects its confidence in Singapore as a hub to capture the growing demand for high-performance specialty chemicals in Asia. We look forward to how the new plant's advanced manufacturing capabilities will boost our chemicals sector to meet customers' needs in growth areas such as mobility and electronics. We continue to welcome like-minded partners like SABIC to invest in our talent and capabilities here in Singapore, to create cutting edge material solutions for the world." SABIC's role in Singapore SABIC has empowered its workforce by enabling global knowledge transfer and upskilling local talent to effectively manage the production of one of the most technologically advanced plastics in the world. This holistic approach to the expansion integrates human capital development and leverages global expertise to establish an Asian hub built on a foundation of regional talent. SABIC's advanced materials have become integral to Singapore's leadership in sustainable, high-tech manufacturing, extending to the automotive, healthcare, and telecommunications sectors through application of high-performance ULTEM™ resin. With strong support from the Singapore government, the new facility benefits from the nation's strategic position as a regional hub and its extensive free trade agreements network, enabling SABIC to efficiently serve the region. Hashtag: #SABIC #ULTEM #Petrochemical #Resin The issuer is solely responsible for the content of this announcement.About SABICSABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, and agri-nutrients. SABIC supports its customers by identifying opportunities and developing end-use applications in key industries: Mobility, Hygiene & Healthcare, Electrical & Electronics, Packaging, Agriculture, Consumer Products, and Building & Construction. The company has close to 31,000 employees worldwide, serving customers in more than 140 countries. Fostering innovation and a spirit of ingenuity, SABIC has nearly 11,000 patents and pending applications, and has a global network of technology & innovation centers
MILAN, Nov. 6, 2024 /PRNewswire/ -- As the world's leading electric two-wheeler brand, TAILG launched its flagship new product S96MAX at the International Motorcycle and Accessories Exhibition (EICMA) on November 6. TAILG also showcased its new integrated motor and fast-charging technology, marking a significant breakthrough in the performance and range of electric two-wheelers.  TAILG grandly launches the new electric motorcycle S96MAX at the EICMA! The Star Ring Magnetic Motor--the industry's first three-in-one motor, with a maximum speed of 120KM/h and an efficiency of up to 95%. The Nebula Fast Charging System--72V28Ah*3 high-rate battery, charging 0-80% in 10 minutes.Technological TAILG powers mobility and allows you to enjoy the passion! Two Cutting-Edge Technologies Create a Buzz In recent years, the global trend towards low-carbon travel and growing environmental awareness have driven rapid growth in the electric two-wheeler industry. On November 6, TAILG invited Luca Talotta, a prominent figure in green mobility, as the product experience officer to unveil the S96MAX globally and introduce its new integrated motor and fast-charging technology. The S96MAX is equipped with the industry's first three-in-one integrated motor, the Star Ring Magnetic Motor. It features an axial flux motor structure that integrates the motor, transmission, and electronic control system. With an efficiency of up to 95%, it accelerates from 0 to 50 km/h in just 3.5 seconds and reaches a top speed of 120 km/h. Comprehensive data indicates that the S96MAX achieves a peak power of 15000W. Overall range has increased by 13.5%, energy recovery efficiency by 108%, and motor size and weight have been reduced by 50%. Another highlight of S96MAX is the Nebula Fast Charging System, the industry's first low-voltage, high-current, high-rate charging solution. TAILG's custom fast-charging pile can charge up to 80% in just 10 minutes, with a charging power of up to 20 kW. It significantly improves charging efficiency and reduces costs, and can be expanded to more electric two-wheeled models in the future. In just the time it takes to have a cup of coffee, the S96MAX is ready to hit the road again. In addition, the S96MAX is equipped with various intelligent features, including a TFT smart dashboard with multi-screen interaction, 55W wireless charging, and 1080P front and rear HD cameras. This offers a new option for users who pursue high-quality mobility. EICMA Accelerates TAILG's Overseas Expansion At the exhibition, TAILG showcased 12 different models, attracting global clients for collaboration. The urban commuting and high-speed electric motorcycles with EEC certification saw strong interest for partnerships, while the off-road series Y1, Y3, and Y5 attracted much attention. From product exports to brand expansion abroad, TAILG strategically set the goal of "recreat another TAILG overseas" in 2023. From launching the TLG brand to establishing factories abroad and participating in major global industry exhibitions, TAILG has taken significant steps toward brand globalization. With the commissioning of Vietnam Smart Manufacturing Base and the opening of Indonesia Operations Center, TAILG has established ten smart manufacturing bases globally, with an annual production capacity exceeding 15 million units. TAILG operates seven marketing centers worldwide, exporting products to over 90 countries and regions, and leading the two-wheeler industry in quality exports. Regarding technological innovation, TAILG has rapidly built core technology and product competitiveness with industry-leading R&D centers such as the Global E-Mobility Programme Research Institute. It has launched achievements such as sodium electric vehicles, hydrogen-powered electric vehicles, driverless technology, fast charging and battery swapping technologies. At the exhibition, the renowned American motorcycle brand ZERO unveiled the model Neutrino, jointly developed with TAILG. TAILG is committed to leading the industry's high-quality development through technological innovation. As a global pioneer of long-range electric vehicles and a partner of the United Nations in electric mobility, TAILG will continue to develop new energy solutions that lead the way in global low-carbon mobility. TAILG S96MAX makes its global debut at EICMA 2024! The Star Ring Magnetic Motor and the Nebula Fast Charging System are powering low-carbon mobility. TAILG Unveils the S96MAX at EICMA 2024 – Featuring the Industry-First Star Ring Magnetic Motor and Nebula Fast Charging System
SINGAPORE, Nov. 6, 2024 /PRNewswire/ -- Zerova Technology, a leading innovator in electric vehicle (EV) charging solutions, is set to make its debut at the Singapore International Transport Congress and Exhibition (SITCE) 2024 from November 6 to 8. This marks the company's first participation in the prestigious event, where it will highlight its cutting-edge charging technologies designed to meet the evolving needs of the Southeast Asian market. Zerova’s presence at SITCE 2024 underscores its commitment to providing flexible and reliable charging infrastructure to support the global transition to electric mobility. As part of its strategic expansion into Southeast Asia, Zerova Technology is actively building partnerships and establishing a robust presence in the region. With the growing adoption of electric vehicles across key markets such as Singapore, Malaysia, and Thailand, Zerova aims to deliver reliable and scalable charging infrastructure tailored to the unique demands of Southeast Asian cities. Strong Demand in EV Market Drives Zerova Technology's Expansion for Southeast Market At SITCE 2024, Zerova will showcase a range of high-performance charging equipment tailored for various applications, including fleet and public charging. Featured products include the AX32 Level 2 AC chargers, designed for residential and commercial use, and DW 30 kW DC charger, DS120 kW DC charger, and the DD Series 360kW DC fast charger capable of charging two vehicles simultaneously. These solutions provide not only powerful charging performance but also the versatility to meet the demands of both small-scale residential setups and large commercial operations. A key highlight of Zerova's exhibit will be DQ480, offering up to 480 kW of power, a leap forward in EV charging technology, capable of charging four vehicles simultaneously through four separate charging connectors. This streamlined quad-charging system lowers the average installation costs per vehicle, making the DQ480 cost-effective and space-efficient. This solution is engineered for urban environments where space is limited but fast, efficient charging is essential—such as in fleet depots, gas stations, and shopping centers—boosting charging efficiency and vehicle turnaround time for operators. Zerova will also introduce its Megawatt Charging System (MCS), which is designed for long-haul electric trucks, commercial vehicles, and electric vessels. This cutting-edge technology enables rapid, high-capacity charging, addressing the growing demand for sustainable, fast-charging solutions in Southeast Asia and beyond. Zerova's presence at SITCE 2024 underscores its commitment to providing flexible and reliable charging infrastructure to support the global transition to electric mobility. With a focus on offering tailored solutions for different market needs, Zerova continues to empower vehicle manufacturers, charging operators, and partners with advanced technology designed to drive the future of sustainable transportation in Southeast Asia and around the world.
TAIPEI and MILPITAS, Calif., Nov. 6, 2024 /PRNewswire/ -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) ("Silicon Motion"), a global leader in designing and marketing NAND flash controllers for solid-state storage devices, today proudly announces its achievement of the ISO 26262 ASIL B Ready and ASPICE CL2 certifications. Silicon Motion Achieves ISO 26262 ASIL B Ready and ASPICE CL2 Certification for Automotive Safety Storage Solutions "Achieving these certifications reinforces our role as a technological leader and our unwavering commitment to delivering the highest standards in automotive-grade storage," said Nelson Duann, Senior VP of Client & Automotive Storage Business. "These certifications solidify Silicon Motion's position as a key partner in the automotive industry, particularly as we meet the rising demands for robust, reliable, and safe storage solutions in electric vehicles (EVs) and autonomous driving technologies." As the adoption of electric vehicles (EVs) and autonomous vehicles accelerates, the need for secure, high-performance data storage solutions is more critical than ever. Silicon Motion addresses this challenge with advanced NAND Flash controller technologies and firmware designed to meet automotive applications' strict safety and reliability standards, ensuring data integrity and security for modern vehicles. With over two decades of expertise, Silicon Motion drives innovation in high-performance, energy-efficient, and durable storage solutions. Silicon Motion's automotive-grade products meet rigorous international standards, including AEC-Q100, IATF 16949, ISO 26262, and ASPICE, delivering solutions that surpass the industry's toughest safety and reliability benchmarks. Focused on advancing the automotive industry, Silicon Motion offers a range of specialized storage solutions, including SSD controllers and Ferri-embedded storage products, designed to support the future of safer and smarter vehicles. For more information, please visit: Silicon Motion Automotive Solutions About Silicon Motion: We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world—for servers, PCs and other client devices—and are the merchant market leader in controllers for eMMC/UFS mobile embedded storage used in smartphones, IoT and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at www.siliconmotion.com. Corporate Media Contact: Minnie Lin Director of Marketing Communication E-mail: minnie.lin@siliconmotion.com Investor Contacts:E-mail: IR@siliconmotion.com Sales Contact:E-mail: service@siliconmotion.com
Reduced dependence on certain countries for key raw materials, contributing to stabilizing the magnet supply chain Significant reduction in environmental pollutants, marking a win for ESG-focused global customers Development of rare earth-free magnets also underway, eliminating the need for even light rare earth elements SEOUL, South Korea, Nov. 5, 2024 /PRNewswire/ -- LG Innotek (CEO, Moon Hyuksoo) announced on November 5, 2024, that it has developed a 'high-performance eco-friendly magnet' with the world's strongest magnetic force without using any Heavy Rare Earth (HRE) metals. LG Innotek's high-performance eco-friendly magnet Magnets are essential parts of a variety of power-driven products, including smartphone actuators, vehicle motors, and audio speakers. The push and pull forces of magnets provide this power. Until now, HRE metals have been used as a key material for magnets, essential for maintaining magnetic strength at high temperatures. However, these metals are primarily sourced from only a few countries, such as China, and are known to have high price fluctuations and supply instabilities due to geopolitical risks. Additionally, the mining process generates severe environmental pollution. Therefore, developing HRE-free products has been considered an urgent challenge for the industry. Industry-first alloy that replaces HRE metals In 2021, LG Innotek introduced a magnet with 60% lower HRE metal content compared to previous magnets. The company's newest product, however, does not use any expensive HRE metals, such as terbium (Tb) or dysprosium (Dy). This achievement was made possible through collaboration with the Korea Institute of Materials Science, leading to the development of a pioneering multi-component alloy capable of replacing HRE metals. This alloy, uniformly pasted to each magnet and heated for even diffusion, resulted in the development of the 'high-performance eco-friendly magnet' recently unveiled by LG Innotek. The company's 'high-performance eco-friendly magnet' boasts an industry-leading magnetic performance of 13.8kG (kilogauss, a unit of magnetic field strength). Previously, HRE metals were considered necessary to increase the durability of magnets at high temperatures. However, the company's 'high-performance eco-friendly magnet' boasts at temperatures up to 180℃ without using any HRE elements or expensive precious metals. Reduced dependence on a single country for key raw materials, contributing to stabilizing the magnet supply chain China and a few other countries dominate the global market for HRE metals, controlling global supply and demand. Recently, the price of HRE metals has fluctuated significantly as certain countries have taken steps to adjust the supply. According to the Korea Mineral Resource Information Service (KOMIS), the price of terbium has surged by 331% in four years, rising from USD 900/kg on September 28, 2020, to USD 2,983/kg on February 21, 2022. Dysprosium has also seen increases of up to 189% over the past four years. Such extreme fluctuations in HRE prices are a risk factor that could lead to disruptions in magnet production. With the development of its 'high-performance eco-friendly magnet', LG Innotek is able to contribute to stabilizing the magnet supply chain by significantly reducing its dependence on certain countries for HRE metals. By eliminating the need for HRE metals, the company is also able to reduce the cost of raw materials required for magnet production by 60%. Significant reduction in environmental pollutants, marking a win for ESG-focused global customers The 'high-performance eco-friendly magne't is also welcome news for major global customers who value eco-friendly technologies to minimize environmental pollution. Study results show that mining one kilogram of HRE metals generates more than 0.5 tons of carbon dioxide (CO₂) and 450kg of acidic wastewater and radioactive substances. LG Innotek's 'high-performance eco-friendly magnet' eliminates the need for mining HRE metals, enabling global customers to significantly reduce environmental pollutants in their production processes. For example, using 'high-performance eco-friendly magnets' instead of conventional ones in electric vehicles can reduce the generation of environmental pollutants by about 45kg per vehicle. LG Innotek plans to apply its 'high-performance eco-friendly magnet' to its products, such as smartphone actuators, to further enhance their price competitiveness. In addition, it will actively promote the product to global automakers, automotive parts companies, and smartphone manufacturers to expand its application to sectors such as home appliances and robots. LG Innotek Chief Technology Officer S. David Roh said, "LG Innotek is also developing rare earth-free magnets that use no heavy or light rare earths at all." He went on to say, "We will continue to deliver distinguished customer value to our customers by introducing innovative materials and parts ahead of the curve."
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