LS Cable & System will expand its electric vehicle parts business
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-02-13 04:58:42
[Alpha Biz=(Chicago) Reporter Kim Jisun] LS Cable & System will expand its electric vehicle parts business by establishing a joint venture with a foreign aluminum company. LS Cable & System announced on the 10th that it has signed a joint venture with HAI of Austria at LS Yongsan Tower in Seoul. HAI is the world's No. 1 company in aluminum parts for electric vehicles.
The two companies decided to invest a total of 67.5 billion won to mass-produce high-strength aluminum components for electric vehicles such as battery cases from 2025. LS Cable & System expects the joint venture to generate annual sales of about 200 billion won in 2027.
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