LG Energy Solution will begin producing lithium iron phosphate (LFP) batteries for energy storage systems (ESS) in Korea.
On the 17th, LG Energy Solution said it will start building a production line for ESS LFP batteries at its Ochang battery plant in North Chungcheong Province from the end of this year, with full-scale operations slated to begin in 2027. Initial production will start at 1 gigawatt-hour (GWh), and the company plans to review step-by-step capacity expansions depending on market demand.
In connection with this, LG Energy Solution held a "ceremony to promote domestic production of ESS LFP batteries" at the Ochang Energy Plant with North Chungcheong Province on the day and discussed ways to strengthen Korea's energy industry ecosystem and cooperate on technology.
Lee Bok-won, vice governor for economy of North Chungcheong Province, said, "Starting domestic production of ESS LFP batteries for the first time in the country at the LG Energy Solution Ochang Energy Plant will serve as a catalyst for leading the development of our country's ESS industry," and added, "Through this, the international competitiveness of the Republic of Korea's battery industry will be further strengthened, and North Chungcheong will establish itself as the center of the global secondary battery industry beyond the Republic of Korea, laying the groundwork to lead the global market."
LG Energy Solution has been responding to the expansion of the ESS market by starting early mass production of pouch-type LFP batteries for ESS in June at its standalone plant in Holland, Michigan. In addition, LG Energy Solution plans to convert part of the lines at its joint venture plant with Stellantis in Ontario, Canada, for ESS.