On November 17, LG Energy Solution held a ceremony at its Ochang Energy Plant in North Chungcheong Province, South Korea, announcing that it will start constructing a production line for lithium iron phosphate (LFP) batteries for energy storage systems by the end of this year, with full-scale production planned for 2027.
The project is initially planned to have a production capacity of 1 GWh, with future expansions to be made gradually based on market demand. In addition, LG Energy Solution will further strengthen its cooperation with domestic suppliers of LFP materials, components, and equipment in South Korea, enhancing the local battery industry ecosystem and boosting employment in the region.
This planned deployment aligns closely with the ongoing contractor selection process for the second round of ESS (Energy Storage System) projects by the Korea Power Exchange. The project aims to construct a 540 MWh energy storage system, scheduled for completion by the end of 2027, the same year LG’s LFP battery production line is expected to come online. This timing synchronization will give LG Energy Solution a strategic advantage in the upcoming market competition.
Meanwhile, LG Energy Solution is accelerating its global energy storage battery capacity expansion.
In November 2025, LG Energy Solution and Stellantis’ joint venture, NextStar-Energy, announced that the battery line at its Windsor plant in Canada will be converted to produce LFP batteries required for energy storage products.
The joint venture project was officially announced in March 2022, with a planned total investment exceeding USD 4.1 billion. It was originally scheduled to start production in the first quarter of 2024, with a designed annual capacity of over 45 GWh. With this production adjustment, LG Energy Solution will further enhance its supply capability for the rapidly growing North American ESS market.
While continuing to expand its global energy storage footprint, LG Energy Solution’s operational performance has also shown a steady upward trend.
Financial data shows that LG Energy Solution’s operating profit rose significantly in Q3 2025. The company reported consolidated revenue of KRW 5.7 trillion for Q3 2025, a quarter-on-quarter increase of 2.4%, while operating profit surged to KRW 601.3 billion, up 22.2% quarter-on-quarter, including approximately KRW 365.5 billion in U.S. production incentive subsidies. As of Q3 2025, LG Energy Solution’s backlog of orders reached approximately 120 GWh.
Source：EnergyTrend