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EXCLUSIVE Soelect, Lotte Chemical aim to scale up U.S. output of battery components

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February 8, 2023


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The logo of Lotte Chemical is seen at its building in Seoul, South Korea, June 7, 2016. REUTERS/Kim Hong-Ji April 26 (Reuters) - Battery startup Soelect and Korean supplier Lotte Chemical (011170.KS) said on Tuesday they intend to invest more than $200 million in a joint venture to make advanced battery components for electric vehicles in the United States.

The companies signed a memorandum of understanding to scale up production of Soelect’s LiX lithium metal anodes for next-generation batteries with higher energy density and fast-charging capability.

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