SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it has set up two independent in-house companies to accelerate battery swap and energy management services. It has launched KooRoo to take the lead in battery-as-a-service (BaaS), primarily focusing on the development of electric vehicle battery packs fit for replacement instead of charging, [...]
SEOUL, Sept. 23 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed supply agreements with three Canadian mineral companies to secure key raw materials used in lithium-ion batteries for electric vehicles. Under the arrangement with Electra Battery Materials Corp., the Toronto-based battery materials refiner will supply 7,000 tons of cobalt sulfate [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Monday it is joining hands with Japan’s Honda Motor Co. to build an electric vehicle battery plant in the United States in the latest move to increase its production capacity amid growing demand for zero-emission vehicles. The two companies [...]
SEOUL, Aug. 22 (Korea Bizwire) — Hyundai Motor Group and LG Energy Solution (LGES) Ltd. have secured US$710 million in loans and guarantees for their joint project to build a battery cell plant in Indonesia, the companies said Monday. Hyundai and LG will receive the funds from five different international financial firms with a 10-year [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it will run its global production sites only on renewable energy starting in 2025 as part of efforts to achieve the goals for sustainable growth. All battery production facilities in South Korea, North America, Europe and China will operate on 100 percent renewable [...]
SEOUL, July 27 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Wednesday it aims to boost annual sales by more than threefold and achieve double-digit operating profit margins in the next five years through active foreign expansion and by securing stable supply. Unveiling the mid-to long-term strategies, the South Korean battery maker said it [...]
SEOUL, July 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has signed a joint venture agreement with a Chinese mining company to build a battery recycling plant to secure raw materials for lithium-ion battery components. The joint venture deal with Zhejiang Huayou Cobalt Co. will commit the two companies to build [...]
SEOUL, July 22 (Korea Bizwire) — LG Energy Solution, South Korea’s leading electric vehicle battery maker, said Friday it will supply more battery packs to Ford Motor Co. as the U.S. carmaker ramps up its global production of electric vehicles. LG Energy Solution will initially double the battery production line allotted for Ford Motor at [...]
SEOUL, July 7 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Thursday it expects its second-quarter operating profit to shrink sharply from a year earlier due to global supply disruptions and China’s COVID-19 lockdowns. The company estimated operating income for the April-June period at 195.6 billion won (US$150.5 million), down 73 [...]
SEOUL, July 6 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) will supply its electric vehicle batteries to Japanese commercial vehicle maker Isuzu Motors Ltd. in a deal likely amounting to at least 1 trillion won (US$762.4 million), a news report said Wednesday. LGES will produce cylindrical batteries for Isuzu’s EV version of its flagship [...]