Market News

Recent Development:

On December 2022, ABB an automation company and Red Hat a software company announced a global partnership to enable industries using ABB’s process automation and industrial software to scale rapidly and flexibly leveraging Red Hat’s industry leading enterprise platform.

On 19 January 2023, LG Chem a chemical company completes acquisition of AVEO oncology. AVEO to become the U.S. foundation for LG Chem life science’s oncology division in 2023.

On 9 February 2023, GE helps recharge Eurotunnel so more trains can travel vital link between UK and the continent.

On 24 January 2023, Tesla made commitment to invest $3.5 billion in Nevada with their first gigafactory. Their goal was to build a facility capable of producing 35 GWh of battery cells annually.

Multinational players

Some of the leading players in the advanced energy storage system market include ABB Ltd., LG Chem, Ltd., Samsung SDI Co., Ltd, General Electric Company, and Tesla Inc.