LG Chem: in 5 years, every tenth car will be electric cars

LG Chem: in 5 years, every tenth car will be electric cars

August 8, 2020 0 By autotimesnews

During an interview, Shin Hak Chol shared his opinion on the electrification of the automotive industry.

According to the head of LG Chem, Shin Hak Chol, mass electrification of cars will take place by 2025. To date, the company has entered into numerous agreements with leading electric vehicle manufacturer Tesla, thanks to which the brand has absorbed almost 25% of the global battery market.

It is noted that the revenue of LG Chem in 2020 amounted to $ 11 billion, but according to the head’s forecast, by 2025 this figure will grow to $ 25 billion, and every tenth machine will have an electrical basis.

Shin Hak Chol also noted that electric cars continue to gain popularity. Countries are actively developing networks of charging stations and infrastructure for the free movement of self-driving cars.