South Korea's LG Chem to team up with China's Geely on EV batteries.

South Korean battery maker LG Chem formed a joint venture with China’s Geely Automobile Holdings to produce batteries for electric vehicles. The joint venture would have annual production capacity of 10 GWh by the end of 2021, and its products would be supplied to Geely’s electric vehicles from 2022. The two parties would invest $94m each in the venture.