Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Lockheed Martin Emerges as Frontrunner to Acquire Ultra Maritime in $3.5 Billion Defense Deal 
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
Suncorp Cuts 2026 Premium Growth Forecast as Australia, New Zealand Markets Weaken 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Shares in South Korean battery makers LG Chem Ltd. and SK Innovation Co plunged Tuesday after Volkswagen announced plans to produce its electric vehicle batteries and gradually switch from pouch-type batteries to a new "unified" prismatic battery cell in 2023.
The German carmaker plans to build six battery factories in Europe with a total capacity of 240 gigawatt-hours by 2030.
The shares of LG Chem, whose battery-making division LG Energy Solution Ltd. supplies Volkswagen, plummeted 7.76 percent to 891,000 won, its largest daily loss this year, while SK Innovation plunged 5.69 percent to 215,000 won.
LG Chem and SK Innovation produce pouch-type batteries.
Samsung SDI Co., which supplies prismatic cells to Volkswagen, remained slightly edged down 0.87 percent to 680,000 won.
Volkswagen's plans are expected to affect the South Korean battery makers' attempt for European expansion.
Kim Jung-hwan, an analyst at Korea Investment & Securities, sees the Korean battery makers' shares in Volkswagen's EVs declining from 2025.
