This file photo taken on April 25, 2023, and provided by LG Energy Solution shows its domestic plant in Ochang, North Chungcheong Province. (Image courtesy of Yonhap)
SEOUL, Jan. 25 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading manufacturer of lithium-ion batteries, said Thursday it will make an equity investment in U.S. startup Sion Power for next-generation battery development.
The investment is for technology partnership in developing lithium metal batteries, which use a lithium metal anode instead of a graphite or silicon anode to achieve higher energy efficiency compared to existing lithium-ion batteries, LGES said in a statement.
“This investment is a strategic decision to solidify our leadership in the development of next-generation technologies in the battery industry,” the statement said.
LGES did not provide the value of the investment and other details.
Sion Power, founded in 1994 and based in Arizona, holds core patents for lithium metal battery technologies.
(Yonhap)
