SEOUL (Reuters) – LG Chem shareholders approved the company’s proposal to separate its battery business into a new company, a source familiar with the matter told Reuters on Friday.
The decision paves the way for the battery business, a supplier for Tesla Inc and General Motors Co, to potentially raise funds and go public to finance its high-cost capacity expansion.
(Reporting by Heekyong Yang and Hyunjoo Jin; Editing by Himani Sarkar)
