Asian Tech Press (OCT 27) -- LG Chem and Japan's Toray Industries will invest more than 1 trillion won in a battery separator joint venture in Hungary, according to LG Chem in a statement.

The joint venture will start operations with a 50:50 shareholding, and LG Chem plans to acquire an additional 20 percent of Toray's shares within 30 months to secure the right to operate. Construction will begin in the first half of next year, and the plant will have an annual production capacity of 800 million square meters by 2028.

1 South Korean Won = 0.00086 USD