LG Chem's first quarter 2017 results show that its operating rate in China's battery factories has increased significantly.
In a teleconference held on the same day, LG Chem said that from a holistic perspective, the battery market has gradually shrunk and production has been declining, but thanks to the Chinese government's financial subsidy policy for electric vehicle batteries, low-voltage batteries, hybrid vehicle (HEV) batteries. And the export battery is responsible for the factory in China. Therefore, the operating rate of the battery factory in China has risen rapidly. LG Chem Vice President Park Jung-soo told reporters on the 31st of last month that the overall operating rate of its factory in China in the first quarter reached 70%, and will soon be raised to 100%. Among them, the operating rate of polarizing plate factory exceeded 90%, the proportion of finished products of glass substrates rose by 35% year-on-year, and the production targets reached 80% of the world's leading enterprises.
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