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LG Energy Solution Signs Battery Materials Supply Deals with 3 Canadian Mineral Companies

LG Energy Solution Signs Battery Materials Supply Deals with 3 Canadian Mineral Companies

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 [...]

LG Energy Solution to Run Global Operations Only on Renewable Energy from 2025

LG Energy Solution to Run Global Operations Only on Renewable Energy from 2025

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 [...]

LG Energy Solution Eyes Double-digit Margins, Triple Sales Growth in 5 Years

LG Energy Solution Eyes Double-digit Margins, Triple Sales Growth in 5 Years

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 [...]

LG Energy Solution Says U.S. Battery Probe Involves No Additional Issues

LG Energy Solution Says U.S. Battery Probe Involves No Additional Issues

SEOUL, April 6 (Korea Bizwire) — LG Energy Solution Ltd.(LGES) said Wednesday the U.S. auto safety agency’s probe into its batteries is a “follow-up procedure” to the recent recalls of electric vehicles made with LG products, stressing that it does not involve any additional issues. The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday [...]

LG Energy Solution Hammered by Short Selling Since Russia’s Invasion of Ukraine

LG Energy Solution Hammered by Short Selling Since Russia’s Invasion of Ukraine

SEOUL, March 28 (Korea Bizwire) — Battery maker LG Energy Solution Ltd. (LGES) has been the most shorted South Korean stock since Russia launched its invasion of Ukraine. According to the Korea Stock Exchange, the amount of short sale transactions of LGES totaled 921.7 billion won (US$753 million) during the period from March 11, when [...]