SEOUL, Feb. 7 (Korea Bizwire) – On February 5, a truck hauling a massive 200-inch screen made its way past the LG Twin Towers in Yeouido, Seoul, home to the LG Group’s headquarters. The screen displayed a message urging the disclosure of a performance system that matches the employees’ efforts, stating, “Reveal a performance system that [...]
SEOUL, Feb. 6 (Korea Bizwire) – A number of employees from LG Energy Solution have launched a protest demanding improvements to the bonus system following the company’s decision to significantly reduce this year’s bonuses due to a slowdown in demand for electric vehicles. From February 5 to 29, approximately 1,700 LG Energy Solution employees, through anonymous [...]
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 [...]
SEOUL, Dec. 8 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading battery maker, said Friday it will supply battery cells to a Polish battery pack company in a three-year deal. LGES has signed the deal to begin supplying 200,000 nickel cobalt manganese (NCM) battery modules to Impact Clean Power Technology (ICPT) in 2024 [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday its third-quarter net profit more than doubled from a year earlier on strong demand in the United States and U.S. government’s tax credits. Net profit for the three months ended in September soared to 420.5 billion won [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading car battery maker, said Thursday it has signed a 10-year deal with Toyota Motor Corp. to supply EV batteries that will be produced in the United States. The two companies’ U.S. business units — LG Energy Solution Michigan, Inc. and Toyota [...]
SEOUL, Sept. 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has raised US$1 billion by selling global green bonds, a funding that will help the battery maker move forward with its aggressive market expansion. LGES sold $400 million worth of three-year debts in one tranche and $600 million worth of bonds [...]
SEOUL, Aug. 8 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it has set up a joint venture with China’s Huayou Cobalt Co. for battery recycling, as it diversifies supply channels to secure the stable sourcing of key raw materials. The agreement, signed Monday, commits the two to building [...]
SEOUL, July 27 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its second-quarter operating profit more than doubled from a year earlier, driven by the continued strong electric vehicle (EV) demand. Operating income reached 460.6 billion won (US$361.5 million) in the April-June period, compared with 195.6 billion won the previous year, the company [...]
SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday its second-quarter operating profit is expected to have more than tripled from a year earlier on the back of strong demand for electric vehicle batteries. Operating income reached 611.6 billion won (US$468.7 million), compared with 195.6 billion won the previous year, the [...]