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Revision as of 15:57, 29 August 2022 editStorchy (talk | contribs)Extended confirmed users35,151 editsm Disable the categories on this page while it is still a draft, per WP:DRAFTNOCAT/WP:USERNOCAT (using Draft no cat v1.8). The easiest way to do this is by converting them to links, by adding a colon: "[[Category:" → "[[:Category:"← Previous edit Revision as of 13:44, 30 August 2022 edit undoAlly2580 (talk | contribs)Extended confirmed users1,889 edits controversiesNext edit →
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'''LG Energy Solution, Ltd.''' ('''LGES'''; {{Korean |hangul=주식회사 엘지에너지솔루션}}) is a battery company headquartered in ], South Korea. LGES is one of the largest battery maker alongside ], ], and ].<ref>{{cite news |last= |first= |date=March 9, 2022 |title=Contracts shield Asia's EV battery makers from nickel surge, for now |url=https://www.reuters.com/business/contracts-shield-asias-ev-battery-makers-nickel-surge-now-2022-03-09/ |work=] |location= |access-date=}}</ref> '''LG Energy Solution, Ltd.''' ('''LGES'''; {{Korean |hangul=주식회사 엘지에너지솔루션}}) is a battery company headquartered in ], South Korea. LGES is one of the largest battery maker alongside ], ], ], and ].<ref>{{cite news |last1=Yang |first1=Heekyong |last2=Shirouzu |first2=Norihiko |date=March 9, 2022 |title=Contracts shield Asia's EV battery makers from nickel surge, for now |url=https://www.reuters.com/business/contracts-shield-asias-ev-battery-makers-nickel-surge-now-2022-03-09/ |work=] |location=]/] |access-date=}}</ref>


==History== ==History==
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===LG Energy Solution (2020-present)=== ===LG Energy Solution (2020-present)===
In September 2020, LG Chem announced spinning off its Energy Solution business to cope with growing demand from global automotive manufacturers. LG Chem's battery business officially became a separate company and was renamed its name LG Energy Solution in December 2020.<ref>{{cite news |last=Kim |first=Eun-jung |date= December 1, 2020 |title=LG Energy Solution sets sail to target growing EV market, but challenges lie ahead |url=https://en.yna.co.kr/view/AEN20201201002900320?section=news |work=] |location=Seoul |access-date=}}</ref> It subsequently undertook an IPO process to secure funds to increase its battery production capacity and became public in January 2022.<ref>{{cite news |last=Kim |first=Eun-jung |date=January 29, 2021 |title=LG Energy Solution accelerates IPO push as it picks lead managers |url=https://en.yna.co.kr/view/AEN20210129003300320 |work=Yonhap |location=Seoul |access-date=}}</ref><ref>{{cite news |author=<!--not stated--> |date=January 27, 2022 |title=LG Energy Solution: Battery giant jumps in market debut |url=https://www.bbc.com/news/business-60137296 |work=] |location= |access-date=}}</ref> In September 2020, LG Chem announced spinning off its Energy Solution business to cope with growing demand from global automotive manufacturers. LG Chem's battery business officially became a separate company and renamed its name LG Energy Solution in December 2020.<ref>{{cite news |last=Kim |first=Eun-jung |date= December 1, 2020 |title=LG Energy Solution sets sail to target growing EV market, but challenges lie ahead |url=https://en.yna.co.kr/view/AEN20201201002900320?section=news |work=] |location=Seoul |access-date=}}</ref> It subsequently undertook an IPO process to secure funds to increase its battery production capacity and debuted on the ] in January 2022.<ref>{{cite news |last=Kim |first=Eun-jung |date=January 29, 2021 |title=LG Energy Solution accelerates IPO push as it picks lead managers |url=https://en.yna.co.kr/view/AEN20210129003300320 |work=Yonhap |location=Seoul |access-date=}}</ref><ref>{{cite news |author=<!--not stated--> |date=January 27, 2022 |title=LG Energy Solution: Battery giant jumps in market debut |url=https://www.bbc.com/news/business-60137296 |work=] |location= |access-date=}}</ref>

==Cotroversies==
According to General Motors, manufacturing defects in batteries supplied for ] caused 13 confirmed battery fires. The faulty batteries were produced in LGES plants in South Korea and ], and GM pursued reimbursement from LG. In the end, LGES and ] agreed to pay GM up to $1.9 billion for the recalls on every car produced since 2016.<ref>{{cite news |last=Wayland |first=Michael |date=October 12, 2021 |title=LG to pay up to $1.9 billion to General Motors over Bolt EV battery fires |url=https://www.cnbc.com/2021/10/12/lg-chem-to-pay-up-to-1point9-billion-to-gm-over-bolt-ev-battery-fires.html |work=] |location= |access-date=}}</ref><ref>{{cite news |last= Kim |first=Seung-yeon |date=October 13, 2021 |title=LG units to repay GM 1.4 tln won for Bolt EV battery recall costs |url=https://en.yna.co.kr/view/AEN20211013005900320 |work=Yonhap |location=Seoul |access-date=}}</ref>


==See also== ==See also==
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{{LG Corporation}} {{LG Corporation}}


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Revision as of 13:44, 30 August 2022

South Korean battery maker
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LG Energy Solution, Ltd.
Native name주식회사 엘지에너지솔루션
Company typePublic
Traded asKRX: 373220
FoundedDecember 1, 2020; 4 years ago (2020-12-01)
HeadquartersSeoul, South Korea
Key peopleKwon Young-soo
(Chairman)
ProductsLithium-ion battery
ParentLG Chem
Websitewww.lgensol.com/en/index

LG Energy Solution, Ltd. (LGES; Korean: 주식회사 엘지에너지솔루션) is a battery company headquartered in Seoul, South Korea. LGES is one of the largest battery maker alongside CATL, Panasonic, SK Innovation, and Samsung SDI.

History

LG Chem Energy Solution Business Division (1992-2020)

LG Chem started the battery business when LG Group chairman Koo Bon-moo visited the United Kingdom Atomic Energy Authority office in 1992. After the visit, Koo brought rechargeable battery samples and began research into the emerging technology. LG Chem produced Korea's first lithium-ion battery in 1999 and succeeded in supplying automotive batteries for General Motors Volt in the late 2000s. Then, the company became a battery supplier to global car makers, including Ford, Chrysler, Audi, Renault, Volvo and SAIC Motor.

LG Energy Solution (2020-present)

In September 2020, LG Chem announced spinning off its Energy Solution business to cope with growing demand from global automotive manufacturers. LG Chem's battery business officially became a separate company and renamed its name LG Energy Solution in December 2020. It subsequently undertook an IPO process to secure funds to increase its battery production capacity and debuted on the Korea Exchange in January 2022.

Cotroversies

According to General Motors, manufacturing defects in batteries supplied for Chevrolet Bolt caused 13 confirmed battery fires. The faulty batteries were produced in LGES plants in South Korea and Michigan, and GM pursued reimbursement from LG. In the end, LGES and LG Electronics agreed to pay GM up to $1.9 billion for the recalls on every car produced since 2016.

See also

List of electric-vehicle-battery manufacturers

References

  1. Yang, Heekyong; Shirouzu, Norihiko (March 9, 2022). "Contracts shield Asia's EV battery makers from nickel surge, for now". Reuters. Seoul/Beijing.
  2. Seo, Ji-eun (May 20, 2018). "Koo Bon-moo brought LG into 21st century". Korea Joongang Daily.
  3. Yang, Heekyong (December 7, 2021). "Factbox: LG Energy Solution, the battery maker behind S.Korea's biggest IPO". Reuters. Seoul.
  4. Kim, Eun-jung (December 1, 2020). "LG Energy Solution sets sail to target growing EV market, but challenges lie ahead". Yonhap. Seoul.
  5. Kim, Eun-jung (January 29, 2021). "LG Energy Solution accelerates IPO push as it picks lead managers". Yonhap. Seoul.
  6. "LG Energy Solution: Battery giant jumps in market debut". BBC. January 27, 2022.
  7. Wayland, Michael (October 12, 2021). "LG to pay up to $1.9 billion to General Motors over Bolt EV battery fires". CNBC.
  8. Kim, Seung-yeon (October 13, 2021). "LG units to repay GM 1.4 tln won for Bolt EV battery recall costs". Yonhap. Seoul.

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Category:LG Corporation Category:Battery manufacturers Category:Electric vehicle battery manufacturers

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