SEOUL, Dec. 20 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday its U.S. unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor. LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP [...]
SEOUL, Dec. 4 (Korea Bizwire) – As concerns mount over a prolonged drop in electric vehicle demand and potential impacts of Donald Trump’s potential return to the White House, South Korea’s battery manufacturers are adapting their strategies amid growing industry turbulence marked by EV plant closures and bankruptcies worldwide. The country’s three major battery makers are [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it has signed a deal with General Motors Co. to develop prismatic battery cells. Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or “chemistries.” Once developed, the prismatic battery cells [...]
SEOUL, Nov. 14 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its U.S. unit has signed a long-term deal to supply energy storage systems (ESS) for a local renewables developer. LG Energy Solution Vertech, Inc. will supply 8-gigawatt-hour (GWh) ESS systems to U.S. renewable energy firm Terra-Gen Power [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korea’s leading battery maker LG Energy Solution (LGES) said Friday it has clinched a deal to supply electric vehicle batteries to U.S. automotive manufacturer Rivian. Under the deal, LGES will provide Rivian with its advanced 4695 cylindrical batteries, totaling 67 gigawatt hours, for over five years, according to [...]
SEOUL, Jul. 2 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it has signed a deal to supply lithium iron phosphate (LFP) batteries for Renault S.A.’s electric vehicles. Under the five-year contract through 2030, LGES will supply LFP pouch-type batteries to Renault’s EV division Ampere, with a total [...]
SEOUL, Jun. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday it has signed an initial pact with a U.S. company to strengthen the competitiveness of its electric vehicle (EV) battery management solutions. LGES has signed a memorandum of understanding (MOU) with Analog Devices, Inc. (ADI) to jointly [...]
SEOUL, Apr. 25 (Korea Bizwire) – LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its first-quarter net profit plunged 62 percent from a year earlier due to slowing electric vehicle sales. Net profit for the three months ended in March plummeted to 212.1 billion won (US$154 million) from 562 billion won [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
SEOUL, Apr. 15 (Korea Bizwire) — LG Energy Solution, a major battery manufacturer, announced on April 14 that it is adopting generative artificial intelligence technology across its operations to better analyze customer needs and maximize operational efficiency. One of the first AI-powered tools implemented is the “YouTube Trend Report,” which utilizes AI to analyze battery-related videos [...]