 | |
Native name | 주식회사 엘지에너지솔루션 |
|---|---|
| Company type | Publicsubsidiary |
| KRX:373220 | |
| Founded | December 1, 2020; 5 years ago (2020-12-01) |
| Headquarters | , South Korea |
Key people | Kwon Young-soo (chairman) |
| Products | Lithium-ion battery |
| Parent | LG Chem (81%) |
| Website | www.lgensol.com |
LG Energy Solution Ltd. (LGES;Korean: 주식회사 엘지에너지솔루션) is a battery company headquartered inSeoul, South Korea. LGES is one of the largest battery makers in the world alongsideCATL,Panasonic,SK Innovation, andSamsung SDI.[1]
LG Chem started a battery business afterLG Group chairmanKoo Bon-moo visited theUnited Kingdom Atomic Energy Authority office in 1992. After the visit, Koo brought rechargeable battery samples and began research into the emerging technology. LG Chem produced Korea's first lithium-ion battery in 1999 and began supplying automotive batteries for theChevrolet Volt produced byGeneral Motors in the late 2000s. Later, the company became a battery supplier to global car makers, includingFord,Chrysler,Audi,Renault,Volvo andSAIC Motor.[2][3]
In September 2020, LG Chem announced that it would spin off its battery business to cope with growing demand from global automotive manufacturers. LG Chem's battery business officially became a separate company and changed its name to LG Energy Solution Ltd. in December 2020.[4] It subsequently undertook an IPO process to secure funds in order to increase its battery production capacity and debuted on theKorea Exchange in January 2022.[5][6]It was South Korea's biggest IPO at that point.[7] In the first half of 2022, LG Energy Solution was ranked second in the world in market share, with 14 per cent according to SNE research.[8] On 4 September 2025,United States Immigration and Customs Enforcement detained 300 South Korean workers during a raid ofHyundai Motor Group Metaplant America, sparking an array of responses from South Korean leaders.[9]
| Name | Partner companies | Establishment date | Dissolution date | LG ownership share (%) | Initial investment (USD) | Ref. |
|---|---|---|---|---|---|---|
| Ultium Cells LLC | General Motors | December 2019 | 50 | 2.3 billion | [10][11][12][13] | |
| NextStar Energy | Stellantis | March 2022 | February 2026 | 51 | 4.1 billion | [14][15][16] |
| L-H Battery Company | Honda | January 2023 | 51 | 3.5 billion | [17][18] | |
| HL-GA BATTERY COMPANY | Hyundai Motor Company | May 2023 | 50 | 4.3 billion | [19][20] | |
| LG-HY BCM | Zhejiang Huayou Recycling Technology | August 2023 | [21][22] | |||
| Toyota Tsusho | ||||||
| Green Metals Battery Innovations | Toyota Tsusho | June 2025 | 49 | [23] |
| Client | Agreement date | Deal value (USD) | Supply start date | Original contract duration/Supply end date | Termination date | Forecasted supply (GWh) | Ref. |
|---|---|---|---|---|---|---|---|
| Toyota | October 2023 | ~3 billion | 2025 | 20 | [24] | ||
| Ampere (company) | July 2024 | 2025 | 5 years | 39 | [25] | ||
| Ford Motor Company | October 2024 | 2026 | 4-6 years | December 2025 | 109 | [26][27] | |
| Mercedes-Benz Group | October 2024 | 2028 | 10 years | 50.5 | [28] | ||
| September 2025 | 2028 | 2035 | 32 | [29] | |||
| 2029 | 2037 | 75 | |||||
| December 2025 | 1.4 billion | 2028 | 2035 | [30] |
According to General Motors, manufacturing defects in batteries supplied forChevrolet Bolt caused 13 confirmed battery fires. The faulty batteries were produced in LGES plants in South Korea andMichigan, and GM pursued reimbursement from LG. In the end, LGES andLG Electronics agreed to pay GM up to $1.9 billion for the recalls on every car produced since 2016.[31][32]
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