LG Energy Solution Profitability Rises on ESS and EV Battery Demand

The company’s performance in the first half of the year reflects a 10.5% year-on-year revenue increase, totaling KRW 14.1 trillion. Growth was anchored by the energy storage system (ESS) division, which saw revenue grow 4.6 times compared to the same period last year. This segment now accounts for a high-20% share of the company's total revenue, bolstered by production capacity expansions in North America and new orders exceeding KRW 3 trillion.

Operational efficiency improved as the sales mix shifted toward cylindrical EV cells and fixed-cost burdens eased. In the electric vehicle sector, mid-to-low price solutions made up more than 35% of pouch battery sales volume, while shipments of 46-Series cylindrical batteries increased by 1.5 times year-on-year. Looking ahead, the firm plans to prioritize data center infrastructure projects and the stabilization of its upcoming Arizona production facility. Development efforts remain focused on high-power tabless 2170 batteries and the establishment of pilot production lines for all-solid-state technology.