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LG
Energy Solution ventures beyond batteries to cover software, ESS
The Korea Times - Electric vehicle (EV) battery maker LG Energy Solution is bolstering new businesses to expand its reach beyond EVs into battery maintenance solutions and energy storage systems (ESS).
The expansion
is in line with the company's vision, announced last year, to expand its
business beyond hardware into software and services. This includes battery
management systems, which are emerging as a core technology for battery safety,
as well as building a Battery-as-a-Service (BaaS) ecosystem to expand service
businesses like battery leasing, rentals and recycling.
The company
currently runs B.around, a signature brand for its business management total
solution business. Advanced from existing battery management solutions,
software from B.around diagnoses a battery's safety level, remaining battery
life and degradation in real time based on artificial intelligence (AI) and
cloud technologies. The brand also offers platforms for software-defined
vehicles.
The company
said B.around has advanced its algorithm with information on battery cells from
diverse EVs to boost accuracy for battery prognosis by lowering the margin of
error to less than two percent, a figure the company said is the lowest in the
industry worldwide.
Another
service, B-Lifecare, allows EV users to check their battery's condition using a
smartphone app and a home device for data collection.
The company's
battery technologies are now being applied in the robotics industry. In
November, it signed a memorandum of understanding with autonomous driving
mobility platform developer Bear Robotics to supply battery cells and cooperate
on technological development.
Its ESS
construction project procurement throughout the past year has included projects
in North America and Europe, ranging from household systems to power
distribution networks.
"We will
not only rely on EVs but also advance new growth engines. Banking on AI, we
will continue to develop software and service businesses to escape the EV
chasm," a company official said. (Advertorial)
