[Apha Biz=(Chicago) Reporter Paul Lee] Kwon Young-soo, vice chairman of LG Energy Solutions, said, "It is going well," regarding the supply of batteries to Toyota, a Japanese automaker.

Kwon met with reporters during his visit to the Korea Battery Industry Association in Yangjae-dong, Seocho-gu, Seoul on the 18th.

Kwon, vice chairman of the Battery Industry Association, visited the office to encourage executives and employees of the Battery Association. Kwon's visit to the association is the first since he took office in February.

LG Energy Solutions is building a battery joint venture with Honda of Japan in the United States. It is for stable battery supply and demand in the era of electric vehicles.

Toyota, the world's largest automaker, is also looking for battery partners to respond to the electric vehicle market, drawing attention by discussing with LG Energy Solutions.

Although it did not disclose details such as the size or establishment of a joint venture, it is believed that positive negotiations are taking place.

On how to respond to the U.S. Battery Resource Regulation (FEOC), he said, "We have not yet come up with a concrete plan, so we need to do well in line with the IRA."

The use of key minerals or battery parts equivalent to FEOC will be excluded from the subsidy for electric vehicles, which is highly uncertain as guidelines have not been finalized.

As for the lithium phosphate iron (LFP) rapid charging battery recently introduced by China's CATL, he said, "We've seen a new product," adding, "We're also working hard to prepare."

CATL recently unveiled a new product and unveiled a battery based on LFP anode materials. It is characterized by being able to drive up to 400㎞ on a 10-minute charge.

 

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