For this, the Korean battery giant will expand non-EV businesses, diversify the EV battery product and customer portfolios, reinforce software and service businesses and take the lead in next-generation battery technologies, pledged the company.“Our vision encapsulates the ultimate goal of LG Energy Solution to enable sustainable growth,” Kim Dong-myung, the chief executive officer of LG Energy Solution, told LG Energy employees on the same day.“The meaning of this vision is to expand our business with energy that awakens all potential powers, thereby enabling the company and its members to realize infinite growth potential.”COMPREHENSIVE ENERGY COMPANYEnergy circulation across the entire cycle from storage to movement of energy lies at the core of LG Energy Solution’s new vision, the company explained.
LG Energy Solution Ltd.has vowed to more than double its sales in five years to 67 trillion won ($50 billion) as a comprehensive energy company by diversifying its battery products and applications beyond EVs and enhancing software and service businesses.
To offset the EV industry slowdown, the company plans to reduce its heavy reliance on the EV battery business while expanding the energy storage system (ESS) business and developing batteries for new applications such as urban air mobility (UAM), vessels and robotics.
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