LG Energy Solution adjusts strategy to tap U.S. ESS market

(LG Energy Solution)

LG Energy Solution, Ltd. is shaping its strategy to target North America, where there is a rapidly growing energy storage systems (ESS) market.

“The United States is expected to overtake China in the number of ESS installations by 2028,” LG Energy Solutions Executive Vice President Kim Hyung-sik said in a recent interview with a British energy publication. “We must focus on local production to seize this opportunity and deliver unique customer value,” he added, outlining a U.S.-focused production strategy.

The Seoul-based battery maker began using some of its battery production lines for ESSs instead of electric vehicles and halted plans to construct an ESS factory in Arizona, the United States. “This decision has been made as we figured out how to use existing facilities,” Kim explained.