Market Chatter: LG Energy Solution Shifts Focus to US Energy Storage Market with Local Production Strategy

MT Newswires Live10-08

LG Energy Solution (KRX:373220) is targeting the US energy storage systems (ESS) market, which is expected to surpass China by 2028 in terms of ESS installations, Pulse News reported Monday.

Company executive vice president Kim Hyung-sik emphasized the need for local production to capitalize on this opportunity, shifting some battery lines from electric vehicles to ESSs, Pulse reported.

The company also halted plans for an Arizona ESS factory, opting to use existing facilities instead, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (KRW): â©425500.00, Change: â©+5500, Percent Change: +1.31%

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