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What is LG Energy Solution's 'empower every possibility' vision?

SEOUL, October 7, 2024 – LG Energy Solution has announced its corporate vision of “Empower Every Possibility” with the aim of transcending the battery manufacturing sector and positioning itself at the heart of the global circular energy ecosystem.

Who is LG Energy Solution?

Spun-off from LG Chem’s battery division in Dec 2020, unfolding the new era of a global battery frontier. LG Energy Solution is building a unique corporate brand value, a specialized company that provides a variety of energy solutions for a better world.

What are LG Energy Solution's five-year goals?

LG Energy Solution presented its five-year goals to more than double the revenue compared to 2023 (KRW 33.7 trillion), and achieve mid-teen percent EBITDA margin (excluding the IRA tax credit) by 2028 to secure stable profitability and cash generation capabilities.

How will LG Energy Solution diversify its EV products & customers?

Second, LG Energy Solution will diversify its EV products and customers. Beyond premium batteries centered on high-nickel chemistry, the company will improve its competitiveness in affordable markets through its LFP, LMFP, and high-voltage mid-nickel products.

Does LG Energy Solution use LFP technology?

For the first time, LG Energy Solution is using LFP technology for its own electricity storage system. The cells are produced under the strictest quality controls in our own highly automated factories. LG Energy Solution has been researching, developing and producing lithium-ion batteries for over 30 years.

What will LG Energy Solution do in the long term?

In the long term, LG Energy Solution plans to proactively respond to the rapidly changing market and secure high-margin opportunities by developing next-generation products and strengthening its power trading business.