LG Energy Solution, Ltd. provides energy solutions worldwide. The company offers automotive batteries, which include pouch-type battery cells, modules/packs, and battery management system products for use in electric vehicle batteries; mobility and IT batteries for various applications in IT devices, such as smartphones and laptops, as well as light electric vehicles, electric bicycles, power tools, and wireless earphones; and energy storage systems that are used in power grids, UPS, and commercial and residential applications. It operates in South Korea, China, and the United States. LG Energy Solution, Ltd. was founded in 2020 and is headquartered in Seoul, South Korea. LG Energy Solution, Ltd. is a subsidiary of LG Chem, Ltd.
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South Korea's LG Energy Solution Shifts Focus from EV Batteries to Energy Storage Systems
South Korean battery giant LG Energy Solution is shifting its focus from electric vehicle batteries to energy storage batteries. Robert Lee, president of the company's North America division, announced that five of its eight plants in North America will be producing batteries for energy storage systems by the end of this year. Demand for large-scale batteries for power storage is surging amid a construction boom for artificial intelligence data centers, and Lee said this is a growth area he had not anticipated. The plant in Lansing, Michigan, produces batteries for utilities and also plans to manufacture batteries for Tesla.
LG Energy Solution Starts Production at 35-GWh Michigan Battery Plant
LG Energy Solution has started production at its new battery manufacturing facility in Lansing, Michigan, as the South Korean company expands its North American supply base for both energy storage systems and electric vehicles. The 226-acre plant is designed to reach more than 35 gigawatt-hours of annual battery production capacity at full scale, with the company investing more than $2 billion in the facility since 2022 and expecting employment to rise from about 900 workers currently to 1,700 at full production. The Lansing plant will manufacture lithium iron phosphate cells for energy storage applications as well as higher-energy-density nickel-manganese-cobalt cells for electric vehicles, with the LFP cells integrated into utility-scale and commercial storage systems by LG Energy Solution Vertech and Michigan utility DTE Energy among the customers. On the automotive side, Lansing will manufacture NMC cells for Toyota, including batteries intended for vehicles such as the 2027 Toyota Highlander EV, under a long-term U.S. battery supply agreement covering about 20 gigawatt-hours annually. The facility was originally developed as an Ultium Cells joint venture between LG Energy Solution and General Motors, but GM agreed in 2024 to sell its interest in the nearly completed plant to its Korean partner, and LG Energy Solution now operates two manufacturing facilities in Michigan with more than $5 billion invested in the state since 2010.
General Motors Extends China Joint Venture With SAIC Motor For 20 Years
General Motors and SAIC Motor agreed to extend their joint venture for another 20 years to deepen cooperation in intelligent electric vehicles and global expansion. The extension signals a renewed long-term commitment by GM to the Chinese market and global EV manufacturing through the SAIC-GM partnership. Separately, GM was removed as a key partner from a major new LG Energy Solution battery plant project in the US as the company adjusts its North American battery strategy. The twin moves indicate a shift in how GM balances China-focused EV development with a more flexible battery sourcing approach in the US.
GM Restarts Ohio Battery Production After Seven Month Shutdown
Ultium Cells, the General Motors and LG Energy Solution joint venture, restarted battery production at its Warren, Ohio plant after a seven month shutdown linked to changes in US BEV market conditions and policy. The Warren facility return to operations marks a fresh step in rebuilding GM's domestic EV battery supply chain following the extended pause. The restart follows earlier adjustments to GM's electric vehicle rollout plans in response to evolving US demand for battery electric vehicles. General Motors, a US auto company with a market capitalization of about $75.8b, designs and sells trucks, crossovers, cars, and parts worldwide. The Ultium Cells restart feeds directly into its effort to secure battery capacity for its broader vehicle lineup.
Overseas became the largest market for global energy storage cells for the first time in the first half
In the first half of this year, overseas markets became the largest destination for global energy storage cells for the first time, with their share exceeding 50% for the first time in the same period in history. InfoLink Consulting data shows that global energy storage cell shipments totaled 467.84 GWh in the first half, up 94.76% year on year, of which overseas market shipments were 248.73 GWh, accounting for 53.2% of the global total. SNE Research statistics show that energy storage cell shipments in North America and Europe grew 83% and 74% year on year respectively, with market shares of 16.5% and 15.8%, while large projects in emerging markets such as the Middle East and Australia accelerated into the execution phase. China's market share fell to 43.9% from 50.5% in the same period last year, with shipments of 202.5 GWh, up 49% year on year, still the world's largest single market. The top ten companies in global energy storage cell shipments are all Chinese companies, with CATL firmly in first place with 125 GWh of shipments and a 27.1% market share, followed by Hithium and EVE Energy in second and third. Although LG Energy Solution ranked only eleventh, its first-half shipments surged 357% year on year to 12 GWh, rapidly approaching the top ten. ICCSINO predicts that global energy storage cell shipments for the full year 2026 could reach 1,200 GWh.
GM exits $3.5 billion Indiana battery venture with Samsung SDI
General Motors is selling its 49.99% stake in an Indiana battery joint venture to partner Samsung SDI, citing slower-than-expected electric vehicle demand. The venture, announced two years ago with a planned investment of $3.5 billion and a target of 27 gigawatt hours of annual capacity, was set to begin mass production in 2027. Samsung SDI will now run the unit independently and redirect it toward energy storage systems alongside EVs. Neither the purchase price nor a revised investment figure was disclosed, and Samsung SDI said its existing spending plan will change but is not yet finalized. The move follows GM and LG Energy Solution’s decision in March to convert a Tennessee battery plant to storage cells, as automakers broadly cut EV output after the $7,500 federal tax credit lapsed last September.
Lopal Technology Signs Continuing Connected Transaction Agreement with LG Energy Solution
Lopal Technology has signed a continuing connected transaction agreement with LG Energy Solution, Ltd. Since LG Energy Solution holds a 20% stake in the company's third-tier subsidiary, Lopal Indonesia, it is regarded as a connected person under the Hong Kong Listing Rules. To regulate transactions between the two parties, the company has entered into separate continuing connected transaction agreements with LG Energy Solution for procurement and sales, and has set annual caps for the transaction amounts from 2026 to 2028. These transactions do not constitute connected transactions under the rules of the Shanghai Stock Exchange.
LG Energy Solution's Second-Quarter Operating Profit Falls 77%
South Korean battery giant LG Energy Solution reported second-quarter results with operating profit down 77% year-on-year to 113 billion won. Revenue rose 24.8%, helped by sales of energy storage systems and cylindrical batteries for Tesla, but bottlenecks in North American ESS module and pack assembly capacity weighed on profits. Excluding tax credits under the U.S. Inflation Reduction Act, the operating loss was 127.7 billion won. Analysts expect performance to improve in the second half, driven by growing North American ESS demand and a recovery in European EV battery demand.
EVE Energy Responds to Patent Infringement Lawsuit and 337 Investigation Filed by LG Energy Solution in the US
Huizhou EVE Energy Co., Ltd. issued a statement on July 24, 2026, saying that LG Energy Solution, Ltd. and its subsidiary LG Energy Solution Arizona, Inc. filed a patent infringement lawsuit against the company in the US District Court for the Eastern District of Texas on July 21, 2026 local time, and concurrently initiated a 337 investigation with the US International Trade Commission. The company stated that after technical tracing and patent comparison analysis, it believes it has not infringed the other party's involved patent rights, and will assemble a professional legal team to actively respond to the lawsuit. As of the announcement date, the company has not yet received formal legal documents. EVE Energy emphasized that it always adheres to independent technological innovation, holding over 17,000 global patent applications in total, including more than 3,000 independent innovation patent applications in the cylindrical battery field.
Multiple Companies on Shanghai and Shenzhen Exchanges Release Half-Year Results and Major Announcements
On the evening of July 24, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. CATL reported first-half net profit of 43.284 billion yuan, up 41.98 percent year-on-year, and plans to distribute 14.11 yuan per 10 shares, as well as repurchase shares worth 20 billion to 40 billion yuan for cancellation. Hikvision posted first-half net profit of 7.896 billion yuan, a 39.57 percent increase, and intends to pay 5.5 yuan per 10 shares. TCL Technology's acquisition of a 45 percent stake in Guangzhou Huaxing Semiconductor has been approved by the Shenzhen Stock Exchange, after which it will hold 100 percent equity. Sunwoda's subsidiary Sunwoda Power plans to bring in Sungrow and Tianqi Lithium for a combined capital increase of 805 million yuan, corresponding to a 2.93 percent stake. Lens Technology's wholly-owned subsidiary signed a memorandum of cooperation with Intel, focusing on TGV advanced packaging technology. EVE Energy responded to LG Energy Solution's patent infringement lawsuit, stating that it has not infringed any patents. In addition, companies such as Xintian Technology, Pu Lian Software, and Beiken Energy suspended trading due to controlling shareholders planning changes in control rights. Cabio Biotech will be subject to other risk warnings, with its stock abbreviation changed to ST Cabio Biotech.
LG Energy Misses Estimates as Profit Drops to 113.3 Billion Won
LG Energy Solution reported preliminary second-quarter operating profit of 113.3 billion won, missing analyst estimates of 210.7 billion won. Revenue rose nearly 25% to 7.6 trillion won, but the company said it would have posted a 127.7 billion won loss without US advanced manufacturing tax credits. Shares fell as much as 8.2% in early Seoul trading before trimming losses to around 4%. The earnings miss reflects weaker US electric vehicle momentum, while the company is shifting focus to energy storage systems for AI data centers, targeting at least 90 GWh in new orders this year.
Honda pivots to data center batteries after canceling U.S. EV programs
Honda has begun producing batteries for energy storage systems, marking its entry into the booming stationary storage market. The cells, originally intended for electric vehicles at its Ohio joint-venture factory with LG Energy Solution, will now supply data centers instead. The pivot follows Honda's cancellation of three U.S.-bound EVs and a $15.7 billion write-down last fiscal year, amid softening EV demand and the expiration of federal tax credits. The energy storage market grew 32% year-over-year, with 9.7 gigawatt-hours installed in the first quarter, and is projected to reach 110 gigawatt-hours annually by the end of the decade. Honda joins Tesla, Ford, and GM in pursuing the profitable battery storage sector, where Tesla reports 30% gross margins on its Megapacks and Powerwalls.
Honda converts Ohio EV battery plant to produce batteries for AI data centers
Honda Motor is converting a U.S. battery plant originally intended for electric vehicle production to manufacture batteries for AI data centers, according to Nikkei. The automaker and South Korea's LG Energy Solution have begun producing batteries for energy storage systems used in data centers at their joint facility in Ohio. The joint venture was formed in 2022 to build lithium-ion batteries for EVs, but weaker-than-expected EV demand led Honda to scale back its electrification strategy and scrap three planned U.S. EV models. Honda plans to begin producing hybrid vehicle batteries at the plant in 2028 after purchasing the facility's assets from LG Energy Solution for $2.5 billion, adjusting production between ESS and hybrid batteries based on demand.