According to reports, North America’s electric vehicle (EV) market is expected to witness a substantial growth of 33% (compound annual growth rate, CAGR) with European (26%) and Chinese (17%) markets following the lead. With the world-wide drive toward EV transition now in place, batteries, the power source that enables the electrification of humanity, are becoming ever-more important. 

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As one of the pioneering companies in the world, LG Energy Solution (LGES) dedicated over 30 years to developing state-of-the-art technology of batteries for broad applications that are geared toward bringing electrification and digitization to our real lives, thereby facilitating climate change mitigation and sustainable growth. LGES is on the cutting-edge of technological innovation and is positioned to lead clean energy revolution. 

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Robert Lee, Executive VP and Head of North America at LG Energy Solution affirms, “We expect to be the market leader in transforming the automobile industry from internal combustion engines to electrification, which has a huge impact on the environment, on the communities that we are a part of, and really reshapes the automobile industry in a positive light.”

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Innovation and R&D 

LG Energy Solution started its journey of lithium-ion battery R&D in 1992. In 2000, it established the first U.S. research facility and started developing lithium-ion batteries for EVs. With its outstanding expertise in battery innovations, the company stood out to become the battery supplier for the world’s first plug-in hybrid electric vehicle, Chevrolet Volt. Now, LGES supplies innovative power solutions to global automakers such as General Motors, Ford, Chrysler (now owned by Stellantis), Volkswagen, Renault, Volvo, Audi, Daimler, Mercedes-Benz, Jaguar, and Porsche.

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Even with various recognised glories and outstanding accomplishments, LGES never ceases to advance in innovation. In the past 10 years, it has invested nearly USD 3.7 billion in developing new battery technologies, with the result of showcasing a strong portfolio of over 25,000 patents. Since 2019, the company has announced a series of joint venture projects with major automakers, such as General Motors, Stellantis, and Honda, to construct battery plants in North America. With these projects underway, LGES aims to secure 250-260 GWh of production capacity in North America by 2025, which could power approximately 3.7 million high performance battery electric vehicles.

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Green Battery Economy 

Charles Hyun, President of LG Energy Solution Michigan, states, “We are paving the path toward a more sustainable future.” LG Energy Solution aspires to lead a sustainable growth of the global battery industry by promoting carbon neutrality across the entire battery value chain, as well as establishing a closed-loop system through battery recycling and reuse. 

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As the first Korean battery manufacturer to join RE100, a global initiative to convert 100% of energy sources to renewable energies, LGES is committed to achieving RE100 in all business sites by 2030, which is 20 years ahead of schedule. Its plant in Michigan has already been running 100% on renewable energy since 2020, and the company plans to expand these achievements to the entire value chain by 2050.

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