SEOUL, June 24 (Yonhap) — LS Cable & System Ltd., South Korea’s biggest cable company, said Monday it will supply electrical distribution systems to a Canadian battery plant under construction.
LS Cable will provide busduct, or busway, an electrical distribution system for the construction and refurbishment of buildings and industrial facilities, to the battery plant built by NextStar Energy in Ontario, the company said in a statement.
The plant, which is Canada’s first large-scale electric vehicle battery plant, has recently begun the first-stage production of EV battery modules.
NextStar Energy is a joint venture between South Korea’s leading battery maker LG Energy Solution Ltd. and Stellantis N.V. Stellantis is a 50:50 joint venture set up through the merger of U.S. carmaker Fiat Chrysler Automobiles N.V. and French automaker PSA Groupe.
“The North American market is rapidly emerging as a potential busduct market given the large-scale construction of EV, battery, semiconductors plants as well as data centers amid an accelerating AI industry,” the statement said.
The company expected US$100 million worth of busduct sales in the North American markets in 2030.
It did not provide the value of the supply deal and other details.
This undated file photo provided by LS Cable & System Ltd. shows a worker installing busduct products in a facility. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
(YONHAP NEWS)