Reuters has reported comments from battery maker LG Chem’s Chief Executive Officer Peter Bahn-suk Kim suggesting that Renault’s EV battery supplier is not yet ready to invest in opening a French plant. Speaking on 19 October at a financial results conference in Seoul, Kim reportedly suggested that “disappointing” EV sales to date could weigh on LG Chem’s decision.
Renault announced a partnership with LG Chem on the development of second-generation EV battery technology in July this year, and suggested success would be likely to lead to investment by LG Chem in French production facilities; but Reuters reported Kim saying: “Investor expectations of the electric vehicle market were too high.”
