LG Energy Solution leads growth with differentiated technology

The Korea Times - LG Energy Solution, which has continued innovation for the world's top technological capabilities, invested 470.7 billion won ($351.3 million) in research and development (R&D) in the first half of this year to enhance its business competitiveness, up 24.4 percent from the previous year.

The company is actively expanding its core technologies such as next-generation high-capacity/high-safety materials and its smart factories as well as developing new products while exploring new promising businesses.

Based on its research and development capabilities, LG Energy Solution has registered 28,652 intellectual property rights as of the end of the first half of this year. When including patent applications, the figure rises to 50,000. LG Energy Solution has been expanding its influence further in the global battery market with overwhelming technological competitiveness it has secured.

As LG Energy Solution holds various IPs, not only for cells but also for battery packs, BMS (battery management system) and more, battery industry insiders say it is virtually impossible to develop new batteries outside of the company’s patents.

With growing global demand on batteries, “mass production leadership,” which enables the production of quality products on time, is becoming as important as the development of core technologies and new products.

On top of the R&D centers it has been operating in Korea, China, the United States and Europe, LG Energy Solution announced in April that it would invest 600 billion won in "Ochang Energy Plant 2" to establish a "mother line," with plan to make it the center for R&D and manufacturing.

It plans to complete construction by December 2024 and conduct pilot production and mass production verification of "pouch long cell batteries" in the new mother line, expanding it across its global production lines.

Unlike the existing pilot line centered on sample production, the mother line is equipped with mass production capabilities, allowing not only trial production but also mass production verification. The company thus expects the mother line will enable it to more effectively cope with diverse customer demands while significantly shortening the time required for stable mass production of new models.

LG Energy Solution signed an MOU with North Chungcheong Province and Cheongju City last year to invest a total of 4 trillion won by 2026 in production and R&D, including the battery mother line at Ochang Energy Plant.

"Ochang Energy Plant is the control tower where new technologies are applied first, and it is the center of our global production facilities,” LG Energy Solution Vice Chairman Kwon Young-soo said.

"With the establishment of the mother line, we will provide customers with world-class QCD (quality, cost, delivery), further enhancing our differentiated competitiveness."

LG Energy Solution has been establishing a stable global production system and expanding its customer portfolio through technological capabilities. Currently, it is the top player in the global electric vehicle battery market, excluding China, and has eight out of the top 10 automakers ― GM, Ford, Stellantis, Volkswagen, Renault-Nissan, Hyundai, Kia and BMW ― as its customers. The company achieved order backlog of 440 trillion won as of the end of the first half of this year. (Advertorial)

Source: https://www.koreatimes.co.kr/www/tech/2023/09/419_359833.html 

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