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LG Energy Solution (LGES)

company 1 Deal 2 Partners

LG Energy Solution (LGES) is a global leader in advanced lithium-ion battery manufacturing, specializing in solutions for electric vehicles (EVs), energy storage systems (ESS), and IT applications. The company focuses on developing and producing high-performance, safe, and sustainable battery technologies to accelerate the global energy transition and electrification of transport and grid infrastructure.

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Founded 2020 30,000 employees
Technology CompanyOEM/Equipment

Strategic Overview

  • Aggressive expansion of global manufacturing capacity, particularly in North America, to meet surging demand for electric vehicle and energy storage system batteries.
  • Strategic focus on forming joint ventures with major automotive OEMs to secure long-term supply agreements and co-locate battery production near vehicle assembly plants.
  • Commitment to diversifying battery product portfolio, including various cell formats (pouch, cylindrical) and advanced chemistries, to cater to different market needs.
  • Emphasis on sustainable and responsible sourcing of raw materials and developing closed-loop recycling systems to enhance environmental stewardship.

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Deal Activity from Public Sources

LG Energy Solution and Hyundai Motor Group announce a joint venture for an EV battery cell manufacturing plant in Bryan County, Georgia, U.S.
Joint Venture Battery Storage, EV Charging USA May 2023 30 GWh with Hyundai Motor Group
LG Energy Solution announces plans to invest in a new standalone cylindrical EV and ESS battery manufacturing facility in Queen Creek, Arizona, U.S.
Development Battery Storage, EV Charging USA March 2023 43 GWh
LG Energy Solution and General Motors announce plans for a fourth Ultium Cells battery manufacturing plant in New Carlisle, Indiana, U.S.
Joint Venture Battery Storage, EV Charging USA January 2023 35 GWh with General Motors
LG Energy Solution and Honda Motor Co., Ltd. announce a joint venture to establish a new EV battery production plant in the U.S.
Joint Venture Battery Storage, EV Charging USA August 2022 40 GWh with Honda Motor Co., Ltd.
LG Energy Solution and Stellantis N.V. establish a joint venture for a large-scale electric vehicle battery manufacturing plant in Windsor, Ontario, Canada.
Joint Venture Battery Storage, EV Charging Canada March 2022 45 GWh with Stellantis N.V.

Investment Focus

Technologies
Storage1
Geography
Canada1

Key People

Youngsoo Kwon
CEO
Lee Chang-sil
CFO

Track Record

5
Deals Completed
4
Years Active
Notable projects: Ultium Cells LLC (JV with GM) battery plants in Ohio, Tennessee, Michigan, Indiana (USA), Joint Venture battery plant with Stellantis in Ontario (Canada), Joint Venture battery plant with Honda in Ohio (USA), Joint Venture battery plant with Hyundai Motor Group in Georgia (USA), Standalone cylindrical battery plant in Arizona (USA)

Detailed Analysis

Technologies
Battery StorageEV ChargingUtilitiesEnergy TransitionData Center
Geographies
South KoreaUSA (4 deals)Canada (1 deal)ChinaPolandIndonesia
Deal Stage
GreenfieldOperating

Subsidiaries

Ultium Cells LLC (JV with General Motors)LG Energy Solution Michigan Inc.LG Energy Solution Wroclaw Sp. z o.o.LG Energy Solution Nanjing Co., Ltd.

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