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Fueled by Tesla deal, LG Chem goes full throttle on EV batteries

Share price surges 60% this year on growing market share

LG Chemical is expanding business with Tesla. (Photo by Mark Vletter)

SEOUL -- LG Chem's shift to automotive batteries has moved into high gear, snagging deals with Tesla and other top automakers while ramping up capital spending in a rush to cement its lead in a rapidly growing market.

LG Chem started supplying batteries to Tesla Model 3 vehicles produced at the U.S. automaker's Shanghai factory this year. 

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