LG Energy Solution Teams up with Analog Devices, Inc. to Gain Competitive Edge in Battery Management Total Solution
* LG Energy Solution signs MoU with Analog Devices, Inc. (ADI), a global semiconductor leader with Innovative Intelligence at the Edge technologies in the field of battery management. * The companies are working towards co-development of a technology that will enable precise measurement of ba...
LG Energy Solution to Host 'Battery Challenge 2024' to Foster Startups with Promising Next-Generation Technologies
* LG Energy Solution seeks to partner with promising startups around the globe by proactively discovering and acknowledging them in their early stages of development * Along with the prize money of up to $30,000, selected companies will be considered for future investment and technological co...
LG Energy Solution Makes Progress Amid Market Uncertainties, Aims to Strengthen Fundamental Competitiveness This Year
* LG Energy Solution records KRW 6.1287 trillion in consolidated revenue and KRW 157.3 billion in operating profit * Despite market uncertainties, the company bears fruits in expanding U.S. operation and developing new business areas * LG Energy Solution to focus on strengthening fundamental...
LG Energy Solution to Take Firm Stance Against Patent Infringers
* A surge in patent infringement by latecomers in the battery industry, and subsequent market distortion caused by unlicensed use of patented technology, calls for strong countermeasures to level the playing field * LG Energy Solution believes that at least 500 patents directed to its first t...
LG Energy Solution to Take Firm Stance Against Patent Infringers
* A surge in patent infringement by latecomers in the battery industry, and subsequent market distortion caused by unlicensed use of patented technology, calls for strong countermeasures to level the playing field * LG Energy Solution believes that at least 500 patents directed to its first t...
LG Energy Solution's $5.5 Billion Stand-Alone Battery Manufacturing Complex Project in Arizona Well Underway
* LG Energy Solution invites Arizona state government and local community officials for a construction progress update on its second U.S. stand-alone facility * Completion and start of production expected in about two years, with full-scale hiring for thousands of new jobs to begin in the sec...
LG Energy Solution Strengthens Partnership with WesCEF, Secures Stable Lithium Supply Chain for the North American Market
* LG Energy Solution signs a second offtake agreement with WesCEF, expands its supply chain for competitive lithium procurement * Lithium hydroxide and lithium concentrate from WesCEF's Mt. Holland lithium project to be assembled into IRA-compliant batteries for the North American market * ...
LG Energy Solution Posts Steady Annual Growth, Aims for Continued Advancement Through Qualitative Growth
* LG Energy Solution marks KRW 33.7 trillion in consolidated revenue and KRW 2.2 trillion in operating profit in 2023 * To maintain growth momentum, the company to pursue qualitative growth by securing technology leadership, cost competitiveness and future readiness * This year's guidance fo...
LG Energy Solution to Invest in Promising U.S. Lithium Metal Battery Technology Startup, Solidifying Leadership in Next-Generation Battery Technology
* LG Energy Solution announces equity investment in Sion Power, an Arizona -based startup that holds core patents for lithium metal battery technologies * The latest investment is part of company's dedication to open innovation, joining efforts with competent partners to tackle technological ch...
LG Energy Solution Reports Solid 3Q Operating Profit, Aims to Enhance Product Competitiveness Across All Segments
* Revenue increases 7.5 percent, operating profit up 40.1 percent year on year, primarily due to stable increase of production volume at GM JV (Ultium Cells) plant inOhio, as well as product mix improvement * The company to focus on reinforcing product competitiveness across all segments * ...
LG Energy Solution Crosses Halfway Mark in Its Journey to Reach Carbon Neutrality
* LGES' ESG Report 2022 published today, announcing a string of sustainable business management progress made in the previous year * 61 percent of the electricity used in the company's global production sites was generated from renewable sources… 56 percent when including non-manufacturing bu...
LG Energy Solution Records Steady Gains in 2Q, Increases Revenue Guidance for 2023
* LGES posts quarterly revenue of KRW 8.774 trillion, operating profit of KRW 461 billion in the second quarter of 2023 * The company records strong first half-year performance by strengthening competitiveness amid growing EV demands in the U.S. market * LGES aims for over mid-30 percent ann...
LG Energy Solution and Hyundai Motor Group to Establish Battery Cell Manufacturing Joint Venture in the U.S.
* The new battery cell JV will be located in Bryan County, Savannah, Georgia where Hyundai Motor Group Metaplant America is currently being built * Total investment amount of over USD 4.3 billion; LGES and HMG to take a 50 percent stake respectively * JV's battery production aimed to start a...
LG Energy Solution Records Fifth Consecutive Quarterly Revenue Growth
* LGES posts the quarterly revenue of KRW 8.7 trillion and operating profit of KRW 633 billion in the first quarter of 2023 * LGES batteries, manufactured and sold this year, fulfill the IRA requirement for battery components and critical minerals, meeting customers' needs for EV tax credit el...
LG Energy Solution to Invest KRW 7.2 Trillion to Build Battery Manufacturing Complex in Arizona, Step Up EV and ESS Battery Production in North America
* The largest single investment ever for stand-alone battery manufacturing facility inNorth America * The new manufacturing complex to produce cylindrical batteries for EVs (27GWh) and LFP pouch-type batteries for ESS (16GWh), with total annual production capacity reaching 43GWh * Productio...
LG Energy Solution, Ford, and Koç Holding to establish a JOINT VENTURE to produce battery cells as Ford prepares to bring more EVs to customers in Europe
* LGES, Ford, and Koç Holding sign non-binding MOU to build one of the largest commercial electric vehicle battery cell production facilities in the wider European region * Project on track to break ground near Ankara, Turkey, later this year, with production to start in 2026, supporting Fo...
LG Energy Solution Declares Support for TCFD*, Vows Transparent ESG Management
*TCFD: Task Force on Climate-related Financial Disclosures * The company announces open support for accurate and timely disclosure of climate-related financial information * LGES to strengthen its ESG activities by closely managing the factors related to climate change throughout the entire b...
LG Energy Solution Posts 2022 Earnings with Record-High Annual Revenue and Operating Profit
* LGES marks KRW 25.6 trillion in consolidated revenue and KRW 1.2 trillion in operating profit in 2022 * 2023 goal set at 25-30 percent increase in annual revenue, with over 50 percent increase in capital expenditure * The company to concentrate on four key initiatives to respond to the ris...
LG Energy Solution Secures Multi-Year Lithium Carbonate Supply from Compass Minerals
* LGES to be supplied with 40 percent of Compass Minerals' annual lithium carbonate production over six years, expected to start in 2025 * The partnership embodies LGES's efforts in securing a stable critical mineral supply chain inNorth America while promoting a sustainable value chain SEOUL...
LG Energy Solution Releases 3Q Earnings with Record Quarterly Revenue, Aims to Uphold Strategic Focus in North America
* LG Energy Solution posts the quarterly revenue of KRW 7.648 trillion and operating profit ofKRW 522 billion in 3Q, 2022 * Strong quarterly performance made possible by enhanced profitability across all product line-ups and favorable exchange rate * The company to secure global leadership a...
