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☆ Mike Lynch-backed legal tech startup Luminance raises $40 million, capitalizing on AI hype
▼ + stars: | 2024-04-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Mathisworks | Digitalvision Vectors | Getty ImagesLegal technology firm Luminance has raised $40 million in fresh funding from investors to grow its U.S. footprint, capitalizing on the wave of investor interest surrounding artificial intelligence. The company told CNBC that it raised the fresh capital in a Series B funding round led by U.S. venture fund March Capital. "We had lots of interest from lots of VCs," Eleanor Lightbody, CEO of Luminance, told CNBC in an interview on Tuesday. Lightbody said that businesses are investing in AI tools like Luminance's to keep a competitive edge, as well as to reduce costs. Luminance is one firm of the many generating buzz from investors thanks to the hype swirling around artificial intelligence.

Persons: Slaughter, Eleanor Lightbody, Lightbody Organizations: CNBC, U.S, National Grid Partners, National Grid, Koch Industries, Hitachi, Yokogawa, Liberty Mutual, LG Chem, BBC Studios, University of Cambridge, Companies, Mistral, Microsoft, Amazon, Investors

☆ GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
▼ + stars: | 2024-02-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors plans to spend $19 billion over roughly the next decade to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday. The long-term supply contract will see LG Chem supply GM with more than 500,000 tons of cathode materials – include nickel, cobalt, manganese, aluminum – from 2026 through 2035, the South Korean supplier said in a release. LG Chem said it aims to "bolster cooperation with GM in the North American market" through the deal. Jeff Morrison, GM vice president of global purchasing and supply chain, said the "contract builds on GM's commitment to create a strong, sustainable battery EV supply chain to support our fast-growing EV production needs." The contract is likely one of the largest, if not the largest, EV supply deals that GM has signed.

Persons: LG Chem, Jeff Morrison Organizations: DETROIT, Motors, LG Chem, South, LG, GM, EV Locations: Tennessee, North America

☆ Goldman Sachs loves these 4 global battery stocks — giving one more than 120% upside
▼ + stars: | 2024-01-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

As electric vehicle automakers like Tesla and BYD continue to make headlines, Goldman Sachs is watching the battery sector closely. Stocks with buy ratings Goldman's buy-rated stocks in the sector include South Korean companies LG Chem, Samsung SDI and LG Energy. It has a target price of 710,000 Korean Won ($530) on LG Chem and 800,000 Korean Won on Samsung SDI, representing potential upside of 81.6% and 123.2%, respectively. Meanwhile, It expects the price of LG Energy to hit 550,000 Korean Won in the next 12 months, representing 47.3% upside. The investment bank has a buy rating on the stock at 20.47 yuan ($2.84), giving it around 6.2% upside.

Persons: Goldman Sachs, Nikhil Bhandari, Goldman, — CNBC's Michael Bloom Organizations: EV, LG Chem, Samsung SDI, LG Energy, Won, U.S, Gotion High Tech, Mast, Recycling, Gotion, Tech Locations: EU, 2025E, South, Korean, United States, Switzerland

☆ 'An iPhone moment': Bernstein names global stocks to play the 'rapid growth' in battery tech
▼ + stars: | 2023-10-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

They said that over 200TWh of batteries will be required for the energy transition both in electric vehicles and energy storage. That breakthrough could arrive by 2027 with the commercialization of SSB batteries, Bernstein said. The firm added that they are set to have higher energy density, fast-charging capabilities and be "much safer" than liquid batteries. Batteries with higher energy density are required to reduce battery costs and increase the range of electric vehicles, Bernstein said. The asset management firm said established battery makers are likely to be the winners.

Persons: Bernstein, Neil Beveridge, CATL, — CNBC's Michael Bloom Organizations: South, LG Chem, Samsung SDI, CATL, Korean Locations: Korean

☆ Goldman names global winners and losers from sliding battery prices; gives one 120% upside
▼ + stars: | 2023-10-11 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"It's more a virtuous cycle —lower battery prices mean more competitively priced EV cars [and in turn] higher adoption and higher demand." Technological developments such as direct lithium extraction could also cause a shake-up in battery prices. Battery market 'winners' Despite some potential risks, Bhandari identified several global stocks that look set to gain from the fall in battery prices. Battery market 'losers' Goldman also revealed a list of potential "losers" in the battery market, or stocks it has a sell call on right now. It gives Gotion a 22.6 Renminbi price target, or 1.8% downside.

Persons: Goldman Sachs, ning, Nikhil Bhandari, CNBC's, Bhandari, —, Envicool, Goldman, CNBC's Naman Tandon Organizations: Battery, LG Chem, Korean, Panasonic, Hong Locations: China, Africa, Latin America, Hong Kong

☆ Forget India: One portfolio manager bucks the trend, says another market offers ‘great value’
▼ + stars: | 2023-09-27 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

India's growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he's steering clear. Dimmich, who manages the $1.5 billion Pacific North of South Emerging Market All Cap Equity fund, said he is "always looking for great companies with strong cashflows that are not correctly reflected in the market." 'Great value market' One country he is very bullish on is South Korea, which he calls a "great value market." The portfolio manager acknowledged that his love of the South Korean market is an interesting one. And so that has always led the Korean market to be quite cheap because people didn't have much faith," he said.

Persons: Kamil Dimmich, Dimmich Organizations: South Capital, CNBC, P, South Emerging, Equity, LG, KB Financial, Samsung, South Locations: North, India, Japan, South Korea

☆ LG Chem partners with Huayou Group to build joint LFP cathode plant in Morocco
▼ + stars: | 2023-09-24 | by ( Heekyong Yang | ) www.reuters.com time to read: +3 min

The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSummaryCompanies LG Chem to build joint LFP cathode plant in Morocco with China's YoushanCompany to enter LFP cathode business for the first timeCompany partners with Huayou Group to build 4 facilities in Morocco and IndonesiaSEOUL, Sept 24 (Reuters) - South Korea's LG Chem Ltd (051910.KS) said on Sunday it has entered into partnership with China's Huayou Group's subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco in an effort to diversify its portfolio. LG Chem said LFP cathodes produced at the Morocco plant will be supplied to the North American market and receive subsidies from the U.S. Inflation Reduction Act (IRA) as Morocco is a free-trade partner with the United States. LG Chem and Youshan would need to adjust their respective equity share in compliance with the U.S. Treasury Department's guideline of a "foreign entity of concern," a provision aimed at China, LG Chem said in the statement. The size of LG Chem's investments for its four facilities with Huayou Group has not been finalised yet.

Persons: Kim Hong, China's, LG Chem, LFP cathodes, Heekyong Yang, Shri Navaratnam Organizations: LG Chem, REUTERS, China's Youshan Company, Huayou Group, LG Chem Ltd, LG, North, U.S, U.S . Treasury, U.S . Treasury Department, Huayou, Thomson Locations: Seoul, South Korea, Morocco, Indonesia SEOUL, KS, United States, Korea, China, U.S, Indonesia

A sign at the approach road leads to Albemarle's lithium evaporation ponds at its facility in Silver Peak, Nevada, U.S., January 9, 2019. REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsSept 4 (Reuters) - Australia's Liontown Resources (LTR.AX) shares shot 11.5% higher after the lithium developer's board on Monday backed a refreshed A$6.6 billion ($4.26 billion) bid from Albemarle Corp (ALB.N), the world's biggest lithium producer. The news prompted Liontown shares to shoot up 11.5% to A$2.92, the highest since July 14. Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project slated for first production in mid-2024, which is among the world's largest and highest-grade hard rock lithium deposits. Albemarle's latest offer for Liontown was its fourth, having also proposed A$2.20 per share on Oct. 20 last year and A$2.35 per share earlier in March before its rejected A$2.50 a share offer was made public.

Persons: Ernest Scheyder, Liontown, Albemarle, Kathleen, Greenhill, Scott Murdoch, Poonam, Jamie Freed, Christopher Cushing Organizations: REUTERS, Albemarle Corp, Australia, Ford Motor, LG, Co, UBS, JPMorgan, Thomson Locations: Silver, , Nevada, U.S, Australian, Chile, Western Australia, South, Albemarle, Sydney

☆ JPMorgan: The world's food supplies face a bleak future. These are the 3 biggest threats, and the companies best-positioned to tackle food insecurity.
▼ + stars: | 2023-08-25 | by ( Mark Reeth | ) www.businessinsider.com time to read: +10 min

Investors need to know exactly where the threats to the world's food supply are coming from, what themes are beginning to emerge in this new reality, and how they should be investing. New threats to the world's food supplyIn her report, Chang highlighted the ongoing problems affecting the world's food supply: war, weather, and the weaponization of food. One of the most devastating recently implemented restrictions on food supply is India's decision to ban the exportation of non-Basmati white rice. The combination of war, weather, and the weaponization of food has taken a toll on the world's food availability. And within food innovation, JPMorgan analysts like Philippine food and beverage maker Monde Nissin (MONDE PM) and Thailand-based seafood producer Thai Union (TU TB).

Persons: UNICEF — that's, Global Research Joyce Chang, Chang, El, Hilary, CJ Cheiljedang, Mengniu Dairy, Kubota, Jeronimo Martins SGPS Organizations: JPMorgan, Hurricanes, UNICEF —, Global Research, Grain Initiative, Food Policy Research, Food, Agriculture Commodities, ASEAN, Mahindra, LG, Thai Union, TU, Jeronimo Martins SGPS SA, Tesco PLC, J Sainsbury PLC, Koninklijke Ahold Delhaize, Carrefour SA, Yara International ASA, OCI, OCI NA, Bayer AG, PepsiCo Locations: Ukraine, California, Canada, East Coast, Russia, Africa, Asia, India, El, South Korean, HK, South Korea, Philippine, Thailand, Europe

SEOUL/SHANGHAI, July 31 (Reuters) - Chinese battery materials firms are ramping up investment in South Korea, announcing projects worth at least $4.4 billion this year to try to meet U.S. electric vehicle (EV) tax credit rules aimed at lowering reliance on China's supply chains. The IRA, designed to wean the U.S. off the Chinese supply chain for electric vehicles (EVs), will also eventually bar tax credits if any EV battery components were manufactured by a "foreign entity of concern", a provision aimed at China. South Korea has a free-trade agreement with the United States that would likely make batteries manufactured in the North Asian nation and later installed in U.S.-manufactured electric cars eligible for the federal tax credits. SK On and its supplier EcoPro Co (086520.KQ) also announced a joint venture with China's Green Eco Manufacture to make battery precursors in South Korea. POSCO Holdings (005490.KS) said last month it would cooperate with China's CNGR Advanced Material (300919.SZ) on nickel refining and precursor production in South Korea.

Persons: Kang Dong, hasn't, China's, 1,274.0000, Heekyong Yang, Zoey Zhang, Miyoung Kim, Tom Hogue Organizations: SK, U.S, Hyundai Motor Securities, China JV, U.S . Treasury Department, South, New Energy Technology, Reuters, Zhejiang, LG Chem, LG Energy, EcoPro, China's, POSCO Holdings, LG, Samsung SDI, EV, Thomson Locations: SEOUL, SHANGHAI, South Korea, United States, China, U.S, Korea, Ningbo, Seoul, South Korean, Korean, KS, Shanghai

☆ Goldman Sachs names the winners and losers of an expected glut in EV battery parts
▼ + stars: | 2023-06-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs expects an oversupply in the global market of battery parts for electric vehicles to have major implications for four major companies. Potential losers The bank's analysts expect POSCO Future M and EcoPro BM, two major Korean cathode producers, to be negatively impacted by this surplus. We thus initiate at Sell on Posco Future M and Ecopro BM," said Goldman Sachs analysts led by Nihil Bhandari in a note on June 12. And winners While Korean cathode manufacturers are expected to face potential margin compression, Korean battery cell makers LG Chem and Samsung SDI are deemed to be in a more favorable position. According to Goldman Sachs, the entry barrier for assembling battery cells is higher than for producing cathodes, making it a less crowded market.

Persons: Goldman Sachs, Nihil Bhandari, Goldman Organizations: Trust Asia, Japan ETF, South Korean, LG Chem, Samsung SDI, Investors, SmartETFs Sustainable Energy, Franklin FTSE Locations: Japan, POSCO, Korean, Franklin FTSE South Korea, South Korea

☆ Factbox: Companies invest in EV battery factories in Europe
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +6 min

Below are recent investments announced by companies:GERMANYSweden's Northvolt said on May 13 it will invest 3-5 billion euros ($3.3-5.5 billion) in an EV battery plant in Heide in the northern state of Schleswig-Holstein as long as subsidies are approved. Volkswagen (VOWG_p.DE) plans to build six battery factories in Europe totalling 240 gigawatt (GWh) of capacity by 2030. Production at its first battery plant, "SalzGiga", in Salzgitter in the Lower Saxony region will start in 2025. Slovakian battery manufacturer InoBat said last October it had signed a declaration of intent with the Spanish government to set up an EV battery factory in central Spain's city Valladolid, expected to cost 3 billion euros. POLANDLG Chem EV battery in Wroclaw started production in the second half of 2017, with a capacity of 100,000 batteries per year.

Persons: Helena Soderpalm, GERMANY Sweden's Northvolt, China's CATL, Germany's, Mercedes Benz, Elon Musk, Berclau, Taiwan's ProLogium, Jean, Luc Monfort, Mata, BASQUEVOLT, InoBat, China's BYD, AEHRA, Poland's, Alessandro Parodi, Tiago Brandao, Matteo Allievi, Barbara Lewis, Milla Nissi Organizations: REUTERS, Volkswagen, EV, Germany's BASF, Automotive Cells Company, ACC, Stellantis, Tesla, FRANCE Joint, France, Renault, Basque Country, Spanish, India's Tata Group, ITALY Joint, POLAND LG, European Commission, SWEDEN Northvolt's Skelleftea, Thomson Locations: Vasteras, Sweden, Europe, Asia, United States, GERMANY, Heide, Schleswig, Holstein, Salzgitter, Lower Saxony, China, Erfurt, Thuringia, Schwarzheide, Brandenburg ., Ludwigsfelde, Berlin, Kaiserslautern, Rhineland, Palatinate, Gigafactory, FRANCE, Billy, France, Dunkirk, Douai, Ruitz, Ergué, Quimper, Montreal, SPAIN Spain, Europe's, Germany, Navalmoral de, Extremadura, Sagunto, Valencia, Spain, Basque, Slovakian, Spain's, Valladolid, Britain, ITALY, Termoli, POLAND, Wroclaw, HUNGARY

But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.

Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ As lithium prices bounce, analysts love these stocks — giving one 155% upside
▼ + stars: | 2023-05-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

After a tough few months, lithium — a battery metal crucial in electric vehicles — is back in the spotlight as prices start to rebound. By the end of last week, however, lithium prices had started to bounce back. "Lithium prices in China gained for the first time this year on signs demand growth may be finally gathering pace … [and] amid thinning inventories across the supply chain," the ANZ Research analysts added. Canadian miner Sigma Lithium stood out for getting the highest potential upside from analysts at 155%, and a buy rating from 75% of analysts. Stocks that received a 100% buy rating included American EV battery maker Microvast Holdings and Australian miner Piedmont Lithium .

[1/2] Electric power transmission pylon miniatures and LG Energy Solution logo are seen in this illustration taken, December 9, 2022. LG Energy Solution (LGES) reported an operating profit of 633 billion won ($472.6 million) for the January-March period, up 145% from 259 billion won a year earlier. When asked about rival Chinese battery makers' efforts to enter the U.S. market, LGES Chief Financial Officer Lee Chang-sil said the company would maintain its competitive position in the U.S. LG Energy Solution's revenue for the quarter doubled to 8.7 trillion won, LG Energy said in a regulatory filing. Shares of LG Energy Solution (LGES), carved out of LG Chem Ltd (051910.KS) last year, rose as much as 2.4% in morning trade, outpacing a flat broader KOSPI market (.KS11).

☆ The IRA isn’t good for just U.S. stocks. Here are some emerging markets names that will benefit too
▼ + stars: | 2023-04-23 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The Inflation Reduction Act does more than buoy U.S. clean energy stocks – it's also an opportunity for emerging markets firms. But the IRA also represents an opportunity for emerging markets firms. "This is a win, win, win," said Paul Desoisa, co-portfolio manager of the Global Emerging Markets strategy at Martin Currie, a specialist investment manager at Franklin Templeton. Here are some places where emerging markets firms stand to benefit. Some possible contenders include Korea's Hanwha Solutions, a multinational with a solar energy business Hanwha Qcells, abrdn's Khwaja said.

Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project slated for first production in mid-2024, which is among the world's largest and highest-grade hard rock lithium deposits. North Carolina-based Albemarle is the world's biggest lithium producer with major facilities in Chile, China and Western Australia where it holds stakes in two mines and is building a lithium hydroxide processing plant near Perth. Albemarle had offered A$2.50 per share after two previous offers, Liontown said in an exchange filing. Albemarle said its "compelling" bid offered a material premium to Liontown shareholders who would benefit from its chemical conversion abilities and existing links with Liontown's customers. Liontown also said RT Lithium Ltd, a subsidiary of Albemarle, had built a near 2.2% stake through on-market purchases.

☆ Volkswagen to invest in mines in bid to become global battery supplier
▼ + stars: | 2023-03-17 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Europe's biggest carmaker wants its battery unit PowerCo to become a global battery supplier, not just produce for Volkswagen's own needs, Thomas Schmall told Reuters in an interview. Long-term, Volkswagen plans to build enough cells to meet half its global battery needs, with most production capacity located in Europe and North America, according to Schmall. "The bottleneck for raw materials is mining capacity - that's why we need to invest in mines directly," he said. Volkswagen released on Thursday the details of a 25,000-euro EV it aims to sell in Europe from 2025. Asian producers like CATL, LG Chem and Samsung SDI dominate global cell production, with almost half of planned battery cell capacity in Europe by Asian players.

☆ Volkswagen: we are covered by our three gigafactories in Europe until 2028
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

WOLFSBURG, March 13 (Reuters) - Volkswagen's (VOWG_p.DE) battery needs are covered until 2028 by its three confirmed factories in Europe - the Salzgitter plant in Germany, Northvolt's plant in Sweden and a planned plant in Valencia, board member Thomas Schmall said on Monday. "With these three plants we are covered until 2028," Schmall said at a press event at the Salzgitter plant, inaugurated last July. The Valencia plant, confirmed last year, is due to begin production in 2026. Volkswagen said last week it was waiting to hear what Europe's response to the U.S. Inflation Reduction Act will be before progressing with plans to build further battery plants in the region. The carmaker was standardising the structure of its factories to make production more efficient, Schmall said, describing the process of building new plants as "copy-paste".

☆ Lithium-ion battery recycling company Li-Cycle scores $375 million conditional loan from Energy Department for Rochester plant
▼ + stars: | 2023-02-27 | by ( Pippa Stevens | ) www.cnbc.com time to read: +3 min

Battery recycling company Li-Cycle said Monday it's secured a conditional $375 million loan from the Department of Energy to develop a recycling facility for key battery materials near Rochester, New York. The Rochester facility will significantly expand Li-Cycle's reach. "I think of course we need both primary, meaning mine sources, and secondary…every unit counts of lithium, nickel, cobalt. I think with the overlay of the IRA and the overlay of the corporate targets around sourcing for these materials, recycling is going to be very important." Li-Cycle said it expects the loan to close during the second quarter, with the company planning to initiate commissioning of the Rochester facility late this year.

☆ LG Chem Buys Stake in North Carolina Lithium Miner
▼ + stars: | 2023-02-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +3 min

South Korea’s LG Chem will take a stake in Piedmont Lithium Inc., boosting its North American presence and banking on incentives to scale up its role in U.S. electric-vehicle supply chain. LG Chem will commit $75 million to Piedmont in return for a 5.7% stake in the miner, whose shares are listed on the Nasdaq and Australian Securities Exchange. PREVIEWThe U.S. is our key market and by preemptively securing raw materials this deal allows LG Chem to provide North American customers with products that satisfy IRA standards, said Mr. Hak-Cheol Shin, Vice Chairman and CEO of LG Chem in a statement. LG Chem is planning to build a $3 billion cathode plant in Clarksville, Tenn., slated to open in 2027. Already, Piedmont has an existing contract to supply Tesla with 50,000 tons annually until 2025, in addition to its new LG Chem supply deal.

The company offered a positive outlook in the North American market, where it sees a growing number of customers requesting made-in-USA batteries to be qualified for federal EV subsidies. The company had secured additional orders worth about 20 trillion won in the fourth quarter, Chief Financial Officer Lee Chang-sil added. LGES reported operating profit of 237 billion won ($193 million) for the October-December period, versus 76 billion won a year earlier. That compared with an average analyst forecast of 256 billion won compiled by Refinitiv SmartEstimate. Revenue for the quarter rose 92% to 8.5 trillion won, LG Energy said in a regulatory filing.

☆ GM, LG end plans for fourth U.S. battery cell plant as automaker seeks new partner
▼ + stars: | 2023-01-20 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors and LG Energy Solution have indefinitely shelved plans to build a fourth battery cell plant in the U.S., as talks between the two sides recently ended without an agreement, a person familiar with the plans confirmed to CNBC. The paper, citing unnamed sources familiar with the plans, said GM is in discussions with at least one other battery supplier to proceed with the fourth U.S. battery-cell factory. GM and LG initially announced the joint-venture for a $2.3 billion plant in Ohio in December 2019, followed by other plants near GM operations in Michigan and Tennessee. A spokeswoman for Ultium referred questions to GM and LG Energy, which did not immediately respond for comment. The relationship between GM and LG Energy is crucial to the automaker's future plans for EVs, including topping Tesla and others to become the U.S. leader in all-electric vehicle sales.

☆ Biotech investor Brad Loncar shares 10 predictions for 2023, including a hot new cancer target, Nobel Prize winners, and a biotech founder running for president
▼ + stars: | 2023-01-04 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +14 min

Loncar shared his 2023 forecast, including new drugs, Nobel Prize winners, and more globalization. Brad Loncar isn't expecting a miraculous rebound for the biotech industry in 2023. In an interview with Insider, Loncar shared 10 predictions for biotech in 2023, ranging from Nobel Prize winners and presidential runs to hot cancer targets and bankruptcy worries. 2022 was a rough year for the biotech industry, which once again underperformed the stock market. The industry runs to the next super-hot cancer target: Claudin 18.2In cancer research, drug companies are always on the hunt for the next promising target.

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