LG Energy Solution

Battery manufacturer LG Energy Solution Ltd. is based in Seoul, South Korea. Along with CATL, Panasonic, SK Innovation, and Samsung SDI, LGES is one of the biggest battery manufacturers in the world.

Following LG Group Chairman Koo Bon-moo's 1992 visit to the UK Atomic Energy Authority, LG Chem established a battery company. Koo collected rechargeable battery samples after the visit and started looking into the new technology. In 1999, LG Chem created the country of Korea's first lithium-ion battery, and in the late 2000s, it started supplying GM's Chevrolet Volt with car batteries. Later, the business started supplying batteries to major automakers like Ford, Chrysler, Audi, Renault, Volvo, and SAIC Motor.

To meet the rising demand from international automakers, LG Chem declared in September 2020 that it would split off its battery business. In December 2020, LG Chem's battery division formally split off as a separate corporation and changed its name to LG Energy Solution Ltd. It then went through an IPO procedure to raise money to expand its battery production capacity, and it had its market debut on the Korea Exchange in January 2022. According to the SNE study, LG Energy Solution will be placed second globally in the first half of 2022 with a market share of 14%.

Founded: December 1, 2020
Headquarters: Seoul, South Korea
Website: https://www.lgensol.com/en/index