LG Chem looks to lift car battery sales 70%

SEOUL -- South Korea's LG Chem expects its car battery business to reap 1.2 trillion won ($1 billion) in sales in 2016, a roughly 70% jump driven by expanded supplies to U.S., European and Chinese carmakers.

Sales will likely surpass the break-even point this year, allowing the segment to post profit for a full fiscal year by 2017, the company said Monday.