LG Energy Solution

LG Energy Solution (LGES; KRX: 373220) today announced that the company is investing KRW 1.7 trillion for the construction of a new cylindrical battery factory in Queen Creek, Arizona. The newly announced plant will be the first ever cylindrical-type battery manufacturing plant in North America, solely invested by the Korean battery manufacturer.

LG Energy Solution (LGES; KRX: 373220) today announced the launch of its Advisory Council on Artificial Intelligence (AI). Joining forces with leading scholars specializing in AI technology, the Advisory Council is expected to play a major role in LGES’s digital transformation and the establishment of a manufacturing intelligence platform.

LG Energy Solution (LGES; 373220) is expanding its joint battery research programs with leading institutions across the world as it aims to drive next-generation battery technology amid the fast-changing industry. LGES today announced that it is partnering up with academic organizations in Germany. The company will be working with Münster Electrochemical Energy Technology (MEET) of University of Münster and Helmholtz Institute Münster (HI MS) of Forschungszentrum Jülich.

LG Energy Solution (LGES; KRX: 373220) became a part of history today, as Rainer Zietlow, a world-record driver, set another world record with an electric vehicle powered by LGES batteries.

LGES reported revenues of KRW 4.34 trillion, a decrease of 2.2% compared to the previous quarter.

Stellantis N.V. and LG Energy Solution (LGES) today announced they have executed binding, definitive agreements to establish the first large scale, domestic, electric vehicle battery manufacturing facility in Canada. The joint venture company will produce leading edge lithium-ion battery cells and modules to meet a significant portion of Stellantis’ vehicle production requirements in North America.

LG Energy Solution (LGES; KRX: 373220) today announced it welcomed Dr. Peter Kyungsuk Pyun as the newly created position of Chief Digital Officer, CDO, as the company ramps up efforts to digitally transform its entire global facilities into data-centric operations.

LG Energy Solution (LGES; KRX: 373220) announced Tuesday that it has completed the acquisition of NEC Energy Solutions, a grid battery integrator based in the U.S. to expand its Energy Storage System (ESS) business offerings.

LG Energy Solution (LGES; KRX: 373220) today reported solid performance in the fourth quarter of 2021, with consolidated revenue of KRW 4.44 trillion, up 10.2 percent from the previous quarter. The quarterly revenue growth was mainly driven by robust demand of pouch and cylindrical battery cells for electrical vehicles and small-sized pouch batteries for IT devices. The company posted consolidated operating profit of KRW 76 billion, since turning to profit in the fourth quarter.

Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. The facility will be located in Lansing, Michigan.