2 weeks ago

LG Energy Shifts From EV Batteries Toward Energy Storage

LG Energy, once fixed on EV batteries, jumps to Plan B · livemint.com

LG Energy Solution used to focus mostly on batteries for electric cars.

Now it is making more batteries that store electricity for later use.

This change is happening because many new AI data centers need large amounts of stored power.

Five of the company’s eight North American factories are expected to make these storage batteries by the end of the year.

LG’s Michigan factory plans to make batteries for Tesla and Toyota Motor as well as utilities.

To make storage batteries, LG has had to learn more about a different battery type called lithium iron phosphate, or LFP.

LFP batteries do not store as much energy as some EV batteries, but they are considered safer and more durable.

LG is still making EV batteries, although demand for electric vehicles has not grown as much as companies expected.

Key facts

North American factories: Five of LG Energy Solution’s eight regional factories are expected to make energy-storage batteries by the end of this year.
Lansing facility: The Michigan plant makes cells for utilities and plans to make cells for Tesla and Toyota Motor.
New chemistry: LG is developing lithium iron phosphate, or LFP, batteries for energy-storage systems.
LFP characteristics: LFP batteries have lower energy density than nickel-based batteries but are considered safer and more durable.
Storage demand: Benchmark Mineral Intelligence expects North American stationary-battery demand to reach 76 gigawatt-hours this year and 125 GWh in five years.
General Motors production: LG’s joint-venture plant in northeast Ohio restarted production of GM EV cells after a seven-month shutdown.
Remaining capacity: Benchmark does not expect stationary-battery demand to fully absorb excess factory capacity installed for EV batteries.

livemint.com · 2 weeks ago