LS Cable is planning for the fast-growing electric vehicle market, and will set up a production base for automobile battery parts in Europe as well as China. The goal is to increase sales to more than double in 2020 by expanding business partners to domestic and overseas battery makers as well as automobile manufacturers.

LS Cable, on October 2, revealed that it will invest about KRW 20 billion to establish a vehicle battery component manufacturing subsidiary (LS EV Poland) in Zierzoni Uffi, southwestern Poland.

LS Cable explained, "The European automakers are increasing their proportion of electric cars, and the domestic battery makers are also securing production bases in Europe to preempt the market and supply products in a timely manner." In this regard, LG Chem will produce automotive batteries from Poland in the first quarter of next year, and Samsung SDI has recently completed a factory in Hungary.

LS Cable plans to supply battery makers with various parts, including harnesses for electric vehicles as well as battery packs for general vehicles. The harness is an electric wire that connects various parts of the battery pack, and the LS electric wire adds sensing technology to it and improves the safety by transmitting information to the battery management system (BMS) when an over current occurs.

Meanwhile, LS Cable will produce various electric parts such as electric wires for electric vehicles and battery packs for general automobiles, and supply them to vehicle makers and battery manufacturers. It can be delivered to about 200,000 vehicles batteries per year.

Therefore, LS Cable purchased a new factory at the Gierozhniou U.S. Special Economic Zone with an area of 20,450㎡ (8,000 pyong) and a total floor area of 99,202㎡ (3000 pyong), and started production facilities after stabilizing the quality next year, commercial production will start from 2019. As a result, LS Cable had seven production facilities, including factories in the US, China, Vietnam and India.

LS Cable, the representative of LS Cable, stated, "We will continue to invest in the future for the future by examining the expansion investment for optical cables and power cables in Europe." Meanwhile, LS Cable, Established EV Korea. LS EV Korea is a research and development (R & D) center, and the existing Wuxi Corporation (LSCW) and Polish corporation are operated as production bases, respectively, and plan to increase sales from about 40 billion won to 20 billion won by 2020.

By Park Jung Il comja77@


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