ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Materials

Lotte Chemical to pour $8bn into battery materials and hydrogen

Focus on growth fields to help nearly triple overall revenue by decade's end

Lotte Chemical unveils a plan to step up investment in battery materials and hydrogen energy at an event in Seoul on May 19. (Photo courtesy of Lotte Chemical)

SEOUL -- Lotte Chemical will spend 10 trillion won ($7.9 billion) on new operations in battery materials and hydrogen energy by 2030 under a long-term management strategy unveiled Thursday, aiming to form a solid foundation in these fast-growing fields and ease its dependence on petrochemicals.

The new plan builds on the South Korean company's previously announced target of 50 trillion won in total revenue by that year -- up 180% or so from the 2021 figure.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more