LG Chem Subsidiary Invests KRW 3.5849 Trillion in U.S. Affiliate

[Asia Economy Reporter Moon Hyewon] LG Chem announced on the 22nd that its subsidiary (UltiumCellsHoldings) will invest approximately KRW 3.5849 trillion in its U.S. automobile battery production and sales affiliate (Ultium Cells).

After the investment, the shareholding ratio will be 100%.

LG Chem stated that the purpose of this measure is "to secure management rights through the acquisition of shares in the target company."