LG Energy Solution
LG Energy Solution is a South Korean public battery manufacturer (KRX: 373220) producing lithium-ion cells, modules, and packs in cylindrical and pouch formats for global automotive OEMs, utilities, AI data centers, and emerging humanoid robotics customers, with growing ESS and BaaS software businesses.
- Company typePublic
- Founded2020
- HeadquartersSeoul, South Korea
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What LG Energy Solution does
LG Energy Solution, Ltd. (KRX: 373220) is a South Korean total-energy-solutions company spun off from LG Chem in December 2020 and publicly listed on KOSPI in January 2022. Headquartered in Seoul, LG Energy Solution manufactures lithium-ion battery cells, modules, and packs across cylindrical (including the 46-series) and pouch form factors spanning NCM, NCMA, LFP, LMR, and next-generation sodium-ion, solid-state, bipolar, and lithium-sulfur chemistries. The company operates six global production sites in South Korea, the United States (Holland MI, Arizona, plus JVs in Ohio, Tennessee, and Michigan), Canada (Windsor, Ontario), Poland (Wrocław), and a subsidiary in India, supported by R&D in Daejeon and a 100,000+ global patent portfolio.
LG Energy Solution's primary customers are global automotive OEMs (GM via the Ultium Cells JV, Honda via the Ohio JV, Stellantis via NextStar, Hyundai/Kia, Renault/Ampere, Tesla, and over 31 cumulative automakers across 79 EV projects), utilities and project developers (DTE Energy, CPS Energy/OCI Energy, Heron Power deployments), AI data center operators (Oracle, Crusoe via second-life batteries), light electric vehicle OEMs (over 50% Indian E-2W share), and emerging humanoid robotics platforms (Tesla Optimus, Boston Dynamics, K-Moonshot). The business model combines hardware sales of cells/modules/packs under multi-year OEM and utility supply contracts (e.g., the $1.6B DTE Energy deal), ESS system integration through its LG Energy Solution Vertech subsidiary, recurring BaaS software revenue from B.around, B-Lifecare, B.once, and KooRoo services, VPP/brokerage, and patent licensing via the Tulip Innovation vehicle alongside Panasonic Energy. Long-term contracts, IRA-compliant localized U.S. manufacturing, digital-twin smart factory technology, and a full-battery-lifecycle services stack underpin the go-to-market motion.
LG Energy Solution firmographics
Firmographics- Name
- LG Energy Solution
- Legal name
- LG Energy Solution, Ltd.
- Website
- https://lgensol.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- LG Energy Solution is a South Korean public battery manufacturer (KRX: 373220) producing lithium-ion cells, modules, and packs in cylindrical and pouch formats for global automotive OEMs, utilities, AI data centers, and emerging humanoid robotics customers, with growing ESS and BaaS software businesses.
- Ownership category
- akta.pro rank
LG Energy Solution industry classification
Industry- Product category
- Lithium-ion Batteries
- NAICS
- Battery Manufacturing (33591)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)
- akta.pro secondary industries
- Battery Management Systems (BMS) & Battery Electronics (IMAGAHAC), Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ), Managed EV Charging Software (Residential, Fleet, Workplace) (EUAFAMAA), Battery Management Systems (BMS) & Pack Electronics Manufacturing (EUAFABAJ), Battery Packs & Energy Storage for Micromobility Manufacturing (IMACAOAE)
Keywords
Where LG Energy Solution is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices13 records
Markets served
LG Energy Solution business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Lithium-ion battery cell, module and pack sales: Primary revenue stream from manufacturing and selling NCM, NCMA, LFP, and LMR cells, modules and packs to global automakers (passenger and commercial EVs), robot makers, AI data center operators, and project developers. Includes long-term supply contracts such as the $1.6 billion DTE Energy deal and the Tesla ESS supply agreement.
- Patent licensing and IP royalties: Recurring revenue from licensing LG Energy Solution's patent portfolio (managed via Tulip Innovation alongside Panasonic Energy) to third-party battery makers and customers, exemplified by the 2026 licensing settlement with Sunwoda covering Germany, China and Korea.
- BaaS (Battery-as-a-Service) software and lifecycle services: Subscription, data, and platform-based revenue from B.around (BMTS), B-Lifecare (EV battery diagnosis), B.once (one-time battery evaluation), KooRoo (two-wheeler battery swapping) and VPP/Brokerage services, monetizing the full battery lifecycle.
- ESS system integration and turnkey project revenue: Revenue from LG Energy Solution Vertech's system integration business delivering turnkey battery energy storage projects (e.g., Trenton BESS replacing Powin, OCI's Alamo City BESS, Heron Power solid-state transformer-integrated systems) to utilities and developers.
- Green bond financing (capital markets activity): Capital raising via bond issuances (notably $1 billion in 2023 green bonds and a $2 billion 2024 three-tranche dollar bond) to fund global manufacturing capacity expansion, including the Arizona ESS plant and ESS projects.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Long-term ESS supply contracts to utilities (e.g., $1.6B / 6 GWh deal with DTE Energy across eight Michigan projects) |
| Unit Pricing | Multi-year contract | Multi-year supply contracts for AI data center battery needs (e.g., Oracle / OpenAI Saline Township project) |
| Subscription | Monthly | BaaS subscription / service pricing (B.around, B-Lifecare, B.once, KooRoo) |
| One time/ perpetual license | One time/ perpetual license | Residential ESS products (enblock S, S+, Prime+) bundled with inverter |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels9 records
LG Energy Solution product offering
Product offeringCore offering
LG Energy Solution manufactures and sells lithium-ion battery cells, modules, and packs in cylindrical and pouch form factors, using NCM, NCMA, LFP, LMR, and emerging sodium-ion and all-solid-state chemistries. Its products power passenger and commercial electric vehicles, grid-scale and residential energy storage systems, light electric vehicles, robotics, and future mobility applications. On top of manufacturing, LG Energy Solution operates a Battery-as-a-Service (BaaS) software and services platform (KooRoo, B-Lifecare, B.once, B.around, VPP, ESS SI) and delivers turnkey system integration for utilities and AI data center operators through LG Energy Solution Vertech.
Product overview
LG Energy Solution operates as a platform-plus-modules architecture spanning battery cell-to-system manufacturing and a growing portfolio of Battery-as-a-Service (BaaS) offerings. The company manufactures lithium-ion battery cells across multiple form factors (Cylindrical and Pouch) and chemistries (NCM and LFP) for diverse applications (Passenger EV, Commercial EV, ESS, LEV, Smart Devices, Power Tools, Heavy Equipment, Robots, and Future Mobility/UAM). On top of this manufacturing base, LG Energy Solution layers a battery service platform comprising KooRoo (battery swapping for two-wheelers), B-Lifecare (EV battery diagnosis and lifecycle management), B.once (one-time battery evaluation), B.around (BMTS-based integrated lifecycle management platform), VPP (Virtual Power Plant), and ESS SI (system integration via LG Energy Solution Vertech). The acquisition of NextStar Energy and the existing LG Energy Solution Vertech subsidiary extend the platform into battery cell manufacturing and grid-scale ESS system integration across North America. Future-battery R&D (bipolar, sodium-ion, lithium-sulfur, all-solid-state) underpins the long-term roadmap.
Differentiator
Problem solved
Functional benefit
Brands
- KooRoo: LG Energy Solution's battery swapping service brand for electric two-wheelers, enabling replacement of depleted batteries at dedicated stations in approximately 20 seconds.
- B-Lifecare
- B.around
- B.once
- LG Energy Solution enblock
- BATTERY INSIDE
- Prime+
Products and services
- Passenger EV Batteries Lithium-ion battery cells, modules, and packs designed for passenger electric vehicles, including NCMA cathode and silicon anode chemistries, supplied globally to 31+ automakers across 79 EV projects.
- Commercial EV Batteries Battery systems for commercial electric vehicles including trucks, buses, and delivery fleets, focused on durability, longer cycle life, and total cost of ownership.
- ESS (Energy Storage Systems) Grid-scale, commercial, and residential energy storage system batteries and integrated solutions, including LFP-based products, system integration via LG Energy Solution Vertech, and software-as-a-service offerings for utilities and developers.
- LEV (Light Electric Vehicle) Batteries Battery solutions for light electric vehicles such as e-bikes, e-scooters, and electric two- and three-wheelers, marketed in India and other markets through dedicated subsidiaries.
- Robot Batteries Battery solutions for robots including humanoid robotics, with supply deals for Tesla Optimus and Boston Dynamics and solid-state batteries for Korea's K-Moonshot humanoid robot initiative.
- Cylindrical Batteries Cylindrical battery cells including the 46-series with high energy density, structural stability, and flexible design, used in EVs, ESS, LEVs, robots, and aerospace applications.
- Pouch Batteries Ultra-slim, high-density pouch-type lithium-ion battery cells and modules (cell lines P41, E65D, E66C, E78; modules P28.5, E60).
- NCM Batteries NCM (Nickel Cobalt Manganese) cathode chemistry including NCMA (Nickel Cobalt Manganese Aluminum) batteries that improve energy density and driving range.
- LFP Batteries
Quantifiable outcome
- 50% production speed increase on 46-series cylindrical battery equipment via digital twin technology at Cheongju smart factory
- +7 more outcomes
Companies that use LG Energy Solution
Customer profileNamed customers14 records
Segments7 records
Ideal customer profiles5 records
LG Energy Solution technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability12 records
Feature12 records
LG Energy Solution partnerships and signals
Strategic signalPartnerships
27 partnerships are on record, tiered minor, core and flagship.
- Korea Credit Guarantee FundminorMOU to strengthen the K-battery ecosystem and support small and medium-sized venture companies in the domestic battery industry; aims to solidify Korea's leadership position in the global battery supply chain.
- OCI Energy / CPS EnergycoreLG Energy Solution Vertech supplies battery technology for the Alamo City Battery Energy Storage System in San Antonio (120 MW/480 MWh) under a long-term Storage Capacity Agreement with CPS Energy, with ING financing and Elgin Power Solutions as EPC contractor; commercial operation expected 2027.
- Electra Battery MaterialscoreLG Energy Solution committed to purchasing 60% of Electra's Ontario cobalt sulfate refinery output for the initial five years; positions LG Energy Solution as anchor off-taker for North America's first cobalt sulfate refinery.
- Sebang Lithium BatterycoreSebang will establish a local subsidiary in Ohio to produce grid-scale ESS battery modules for LG Energy Solution; order valued at KRW 1.8 trillion with revenue expected from Q4 2026.
- Tesla (Optimus)flagshipLG Energy Solution announced battery supply deals for major humanoid robot platforms including Tesla's Optimus and Hyundai Motor Group's Boston Dynamics, positioning robot batteries as a new growth engine with the global humanoid robot battery market projected to grow from $14.14M to $851M by 2034.
- Hyundai Motor Group (Boston Dynamics)flagshipBattery supply deal for Hyundai's Boston Dynamics humanoid robots, identified by LG Energy Solution as part of its new robotics battery growth engine alongside Tesla Optimus.
- Tulip Innovation (with Panasonic Energy)coreJoint patent management vehicle representing LG Energy Solution and Panasonic Energy, used to license lithium-ion battery patents to Sunwoda and other third parties and to pursue infringement cases globally.
- Sunwoda ElectroniccorePatent license agreement signed via Tulip Innovation resolving all pending legal actions in Germany, China, and Korea between LG Energy Solution and Sunwoda; confidential financial terms; validates LG Energy Solution's aggressive intellectual property protection strategy.
- Korea-US energy business forum (KEPCO, KHNP, Samsung Heavy, Doosan Enerbility, JP Morgan, ExxonMobil, GE Vernova, NextEra Energy)coreParticipated in jointly hosted Korea-U.S. energy business forum in Washington to deepen bilateral cooperation in nuclear, clean energy, and grid storage; supports 70-year Korea-U.S. civil nuclear partnership.
- Peak EnergyflagshipGM-LG Energy Solution-Peak Energy collaboration on sodium-ion battery development for grid-scale energy storage. Sodium-ion prototyping at GM's Wallace Battery Cell Innovation Center in Warren, Michigan with first cells targeted for trial production in 2028.
- Redwood MaterialsflagshipPartnership with Redwood Materials on second-life battery deployment; ~10,000 repurposed GM EV battery packs to be deployed including for Crusoe's AI data center in Sparks, Nevada, and 100 second-life packs at a Michigan plant providing 7.2 MWh.
- NVIDIAflagshipLG Group-wide strategic collaboration with NVIDIA to build AI factories across robotics, autonomous driving, data centers, and GPU cloud services. LG Energy Solution designated as a partner for scalable AI factories based on NVIDIA's DSX platform.
- LG Upluscore"One LG" alliance where LG Uplus supplies AI data center capacity (200MW hyperscale facility in Paju), LG Energy Solution provides UPS batteries, LG Electronics provides thermal cooling, and LS Electric co-develops DC 800V power distribution.
- Heron PowercoreDesign and engineering collaboration with Heron Power to integrate solid-state transformer-based Heron Link with LG Energy Solution Vertech's U.S.-manufactured BESS. Reduces DC block project footprint by 30%, improves round-trip efficiency 2.4%, and NPV by up to 6%; pilot deployment targeted for later 2026.
- DTE Energyflagship$1.6 billion ESS battery supply agreement covering 6 GWh (1.5 GW) across eight Michigan grid projects over two years, with batteries produced at Holland, Michigan facility. Projects include an Oracle AI data center serving OpenAI.
- StellantisflagshipOriginal 50/50 joint venture (NextStar Energy) for a battery plant in Windsor, Ontario. In February 2026 Stellantis sold its 49% stake to LG Energy Solution for a nominal $100, while remaining a customer sourcing batteries from the plant that employs over 1,300 people and has received up to $15 billion in performance incentives.
- DerichebourgcoreBattery recycling joint venture established with Derichebourg to recover critical materials from end-of-life batteries, supporting circular economy and EU Battery Regulation compliance.
- Aptera MotorsminorExclusive supply of cylindrical batteries (CTNS chemistry) for Aptera's solar electric vehicles under a January 2025 MOU.
- Renault Group (Ampere)flagshipSupply agreement for LG Energy Solution to provide LFP EV batteries to Renault's EV division (Ampere) in Europe, using Cell-to-Pack architecture to enhance cost competitiveness and quality.
- Honda MotorflagshipJoint venture EV battery production facility near Jeffersonville, Ohio (over 2 million sq ft, $4.4B investment, ~2,200 jobs) producing pouch-type lithium-ion batteries for Honda and Acura EVs in North America from late 2025. Also extended into battery swapping for electric motorcycles in Hanoi (May 2026 MoU).
- General Motors (Ultium Cells JV)flagshipUltium Cells joint venture (LG Energy Solution and GM, established 2019 with combined KRW 2.7 trillion equity) operates three U.S. plants in Rosetown OH, Spring Hill TN, and Lansing MI producing NCMA batteries for HUMMER EV and other GM EVs, with expected total capacity of 120+ GWh.
- South8 TechnologiesminorStrategic partnership with U.S. startup South8 Technologies for aerospace battery R&D, supporting next-generation battery development.
- KAISTcoreJoint research venture with KAIST supporting next-generation battery technology development and academic talent pipeline.
- MIT, Stanford, UC Berkeley, University of Chicago, Argonne National LaboratorycoreBattery Tech Conference (Chicago, June 2026) brought together 40+ researchers from these leading institutions for recruitment-focused engagement with LG Energy Solution R&D leadership.
- POSTECH and Sungkyunkwan UniversitycoreJoint development of next-generation battery technology with POSTECH and Sungkyunkwan University (October 2025), covering electrolytes and advanced battery chemistries.
- Tulip Innovation (joint with Panasonic Energy)coreTulip Innovation acts as a joint patent management company for LG Energy Solution and Panasonic Energy, monetizing patents via licensing and enforcement actions.
- LG AI ResearchcoreWithin the K-Moonshot initiative, LG AI Research develops AI models enabling humanoid robots to process visual, physical, verbal, and behavioral information, while LG Energy Solution supplies solid-state batteries for the robots.
Scale indicators19 records
Recent moves7 records
Expansion highlights8 records
LG Energy Solution competitors and assessment
Company assessmentDirect peers
- CATL (Contemporary Amperex Technology): CATL is the world's largest lithium-ion battery manufacturer, supplying cells to global automakers including Tesla, BMW, and Mercedes. It is the most direct competitor to LG Energy Solution in EV and ESS cells, competing on chemistry, scale, and cost.
- BYD: BYD is both a major automaker and one of the world's largest battery manufacturers, with significant LFP blade battery production. It directly competes with LG Energy Solution across cell chemistries (LFP and NCM), form factors (pouch, cylindrical, prismatic), and end markets (EVs, ESS).
- Panasonic Energy: Panasonic Energy supplies cylindrical lithium-ion batteries (notably 2170 and 4680 cells to Tesla) and is a joint patent holder with LG Energy Solution via Tulip Innovation. The two companies compete directly in automotive cells while collaborating on IP licensing.
- Samsung SDI: Samsung SDI is a Korean competitor producing NCM and LFP battery cells, modules, and packs for EVs and ESS, with major customers including BMW, Stellantis, Rivian, and Ford. The two companies compete in automotive cells, ESS, and have overlapping 46-series cylindrical and pouch roadmaps.
- SK On: SK On is the third major Korean battery maker, focused on NCM high-nickel chemistries for global OEMs (including Ford, Hyundai, Volkswagen). It competes directly with LG Energy Solution in the same Korean and U.S. automotive battery markets.
- Sunwoda Electronic: Sunwoda is a major Chinese battery maker producing LFP and NCM cells for EVs and consumer electronics, with which LG Energy Solution recently settled a global patent licensing dispute via Tulip Innovation in 2026. It is a direct competitor in global cell supply and a counterparty in LGES's IP enforcement program.
- EVE Energy: EVE Energy is a Chinese battery manufacturer with leading positions in LFP prismatic cells, ESS, and power tool batteries. It competes with LG Energy Solution in global ESS supply and European auto OEM contracts, with overlapping chemistry and form factor roadmaps.
- CALB (China Aviation Lithium Battery): CALB is one of China's top battery makers, supplying NCM and LFP cells to global auto OEMs and ESS projects. It competes with LG Energy Solution in mass-market passenger EV battery cells and increasingly in grid-scale storage.
Emerging players
- Northvolt: Northvolt is a European battery manufacturer building large-scale NCM and LFP gigafactories in Sweden and Germany, with major customers including BMW, Volvo, and Volkswagen. It competes with LG Energy Solution's Wrocław operations in the European EV and ESS markets.
- Our Next Energy (ONE): ONE is a U.S.-based battery startup developing LFP and dual-chemistry battery packs and cells, with operations in Michigan. It is an emerging player in North American ESS and EV cells, partially overlapping with LG Energy Solution's IRA-driven U.S. footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat7 records
Key risks7 records
Key highlights7 records
Customer concentration
LG Energy Solution social profiles
Digital presenceLG Energy Solution compliance and trust
Trust signalCompliance5 records
LG Energy Solution financial estimates
Financial estimateRevenue estimate
Valuation estimate
LG Energy Solution leadership team
Management profileNumber of profiles
Profiles8 records
LG Energy Solution subsidiaries and ownership
Company hierarchySubsidiaries7 records
LG Energy Solution funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LG Energy Solution M&A and investment
M&A and investmentM&A2 records
Investments7 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LG Energy Solution
What does LG Energy Solution do?
LG Energy Solution manufactures and sells lithium-ion battery cells, modules, and packs in cylindrical and pouch form factors, using NCM, NCMA, LFP, LMR, and emerging sodium-ion and all-solid-state chemistries. Its products power passenger and commercial electric vehicles, grid-scale and residential energy storage systems, light electric vehicles, robotics, and future mobility applications. On top of manufacturing, LG Energy Solution operates a Battery-as-a-Service (BaaS) software and services platform (KooRoo, B-Lifecare, B.once, B.around, VPP, ESS SI) and delivers turnkey system integration for utilities and AI data center operators through LG Energy Solution Vertech.
Is LG Energy Solution a public or private company?
LG Energy Solution is a public company. It is classified as public and is currently operating.
When was LG Energy Solution founded?
LG Energy Solution was founded in 2020. It employs 5,001 to 10,000 people.
Where is LG Energy Solution based?
LG Energy Solution is headquartered in Seoul, South Korea, in the Asia region.
How does LG Energy Solution make money?
Five revenue lines are on record. Lithium-ion battery cell, module and pack sales are the primary driver. The others are patent licensing and IP royalties, baaS (Battery-as-a-Service) software and lifecycle services, ESS system integration and turnkey project revenue and green bond financing (capital markets activity).
Who are LG Energy Solution's main competitors?
Direct peers on record are CATL (Contemporary Amperex Technology), BYD, Panasonic Energy, Samsung SDI, SK On, Sunwoda Electronic, EVE Energy and CALB (China Aviation Lithium Battery). Emerging players are Northvolt and Our Next Energy (ONE).
Does LG Energy Solution have an API?
No public API is recorded for LG Energy Solution.
What industry is LG Energy Solution in?
LG Energy Solution's product category is Lithium-ion Batteries. Its primary akta.pro industry code is IMAGAHAA, Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH), with a secondary code of IMAGAHAC, Battery Management Systems (BMS) & Battery Electronics. Its NAICS code is 33591 and its SIC code is 3600.