LG Chem, China’s Huayou to make battery materials in Indonesia, Morocco

South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan, it said on Sunday, to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.

Huayou has joined the growing number of Chinese electric vehicle and battery companies seeking to expand overseas to get closer to their foreign clients and benefit from local incentives.