Toyota Tsusho acquires 25% stake in LG Chem's Guiwee positive electrode material factory.

LG Chem announced in a press release that Toyota Tsusho Corporation of Japan has acquired a 25% stake in its Kisei cathode material factory, making it the second largest shareholder. Toyota Tsusho Corporation is a comprehensive trading company of the Toyota Group, and is the core company responsible for Toyota's raw material procurement. With Toyota Tsusho's participation, the shareholding structure of LG Chem's Kisei cathode material factory is now as follows: LG Chem 51%, Toyota Tsusho Corporation 25%, and Toyota Cobalt Corporation's share has decreased from 49% to 24%. This allows Toyota Tsusho Corporation to meet the new PFE standard and comply with the IRA regulations. Therefore, Toyota Tsusho Corporation plans to supply its Kisei cathode material factory's produced cathode materials to battery customers in North America.