As the battery industry is pushed further into the spotlight thanks to the electric vehicle (EV) market taking off, LG Energy Solution (LGES) has already established itself as the leading battery powerhouse equipped with the most cutting-edge technologies. Let’s explore how LGES came to be the leader of such an important industry for the future of humanity.
Since the battery sector is technology-intensive and requires extensive research and bold investments, a company’s competitiveness can be best measured by its history of innovation. With innovation woven into its DNA, LGES has been all in on its pursuit of groundbreaking technologies since the moment it was founded, based on its mission to always push the boundaries of innovation and respect the importance of research and development (R&D).
It was thanks to its relentless investment and R&D efforts that LGES’s business persevered through hard times to become the world’s leading battery company. On its way to the top, LGES has made significant investments to advance itself and the entire battery sector, spending 4.2 billion USD on R&D in the last 10 years alone and employing over 3,300 personnel at its global network of R&D centers. In the present, LGES is enjoying the fruits of its labor with a record number of patents (26, 641 as of December, 2022) and groundbreaking innovations.
At the forefront of the green energy industry, LGES equips its industry-leading technologies across diverse energy solutions, such as pouch-type battery cells, cylindrical batteries and energy storage systems, to meet the demands of a wider spectrum of customers. As the only chemical-based global battery company, LGES boasts advanced chemistry-related technologies, such as the application of single crystal NCMA cathode and silicon anode. LGES was also the first to apply new materials, such as the Safety Reinforced Separator (SRS), to the mass production of EV battery cells.
LGES’s competitive edge comes from the “dual form factor strategy” of its pouch-type and cylindrical batteries. For its pouch-type batteries, LGES offers advanced solutions in terms of energy density and quick charging, and will continue to develop new cost-competitive chemistries going forward. Regarding its cylindrical batteries, LGES aims to lead the market by securing production capabilities for the new 4680 battery, which boasts advanced energy density and cost competitiveness.
LGES strives to secure future readiness by developing next-generation battery technologies, including a polymer-based solid-state battery by 2026 and a sulfide-based solid-state battery by 2030. Moreover, the company is not only committed to developing next-generation batteries, but also providing battery management systems (BMS) that maximize battery efficiency and building the foundation for smart factories through predictive maintenance, automation and intelligent manufacturing. LGES’s ultimate goal for this part of its business is to digitalize and streamline battery manufacturing technologies, bolster battery quality, and maximize the efficiency of the manufacturing supply chain.
In the battery industry, ensuring the stable operation of gigantic manufacturing plants is just as crucial as securing technological competitiveness. LGES has the largest manufacturing network in the battery industry with facilities operating in South Korea, China, Poland and the U.S., and more coming soon to Canada, Indonesia and Turkey. The company has also been expanding its global footprint by leveraging the expertise it has accumulated through large preemptive investments in overseas markets, human resources, and local supply chains.
With this extensive network in place, LGES can optimize the cost of logistics through local production, better adapt to local market changes, be closer to customers to ensure timely supply and prompt technical support, and establish a customer-friendly local response structure that enhances its global competitiveness.
LGES is just getting started on its meaningful journey to building customer trust and respect so that it can continue leading the industry forward. With its cutting-edge technologies and future readiness, the company will always strive to innovate and hold its position as leader of the global green energy transformation.