Business LG Chem joins hands with Toyota to accelerate cathode materials market entry
By Diplomacy Journal Lee Kap-soo LG Chem announced on Sept. 9 that Toyota Tsusho Corporation had acquired a 25% stake in LG-HY BCM, the company’s cathode materials plant in Gumi, thereby joining as the second-largest shareholder. Toyota Tsusho, the general trading company of the Toyota Group, plays a vital role in Toyota Motor’s raw material procurement. With Toyota Tsusho’s investment, the shareholding structure of the Gumi plant has shifted to LG Chem (51%), Toyota Tsusho (25%) and Huayou Cobalt (24%, down from 49%). This adjustment ensures the venture meets the newly redefined PFE criteria