• LG Energy Solution ready to become world-leading energy solution company with annual sales of over KRW 30 trillion predicted by 2024

Seoul, Korea, December 1, 2020 – LG Energy Solution – LG Chem’s split-off battery business – officially launched today. The LG Energy Solution company name signifies the company’s expertise in providing diverse energy solutions that enable a better world.

LG Energy Solution boasts a vast global network with production sites in Ochang (Korea), Michigan (United States), Nanjing (China), Binjiang (China) and Wroclaw (Poland), as well as R&D centers in Daejeon (Korea), Troy (United States), Nanjing (China) and Frankfurt (Germany). The company has 22,000 employees – 7,000 based in Korea and 15,000 oversees.

LG Energy Solution is expected to report KRW 13 trillion in revenue this year, and the company plans to become the best energy solution company in the world by reaching KRW 30 trillion in annual revenue by 2024.

To achieve this goal, LG Energy Solution will expand its investments that strengthen its business competitiveness while leading the market with advanced process technologies including innovative, high-performance products and cutting-edge smart factories.

In addition, LG Energy Solution will attain a competitive edge in the E-Platform field by providing various services across its batteries’ lifespans, such as care, lease, charging and reuse, thereby contributing to the expansion of the electric vehicle market while reestablishing the social value of batteries. Meanwhile, LG Energy Solution will continue to secure future growth by pursuing the development of next-generation battery technologies, such as solid-state and lithium sulfur batteries.