Amid concerns about an anticipated slowdown in South Korea’s semiconductor exports this year, lithium-ion batteries for electric vehicles are emerging as a new pillar that will prop up the export-driven economy, said industry officials Monday.
According to forecasts by industry insiders and stock brokerages, the country’s three battery manufacturers — LG Chem, Samsung SDI and SK Innovation — last year won a total of around 110 trillion won ($97.6 billion) worth of orders for electric vehicle batteries from global customers.
Combined with orders on hand from the previous year, the three firms’ order backlogs are estimated to reach 175 trillion won, some industry sources say.
European Metals Holdings Ltd (LON:EMH) are an Australian and UK listed mineral exploration and development company advancing the Cinovec Lithium / Tin Project in Czech Republic. Cinovec hosts the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the world.
