LG Energy Solution Ltd

373220: XKRX (KOR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Largest Korean Battery Producer Expanding in American Market; Positive Outlook Mostly Priced In

Vincent Sun

Jul 30, 2026

Business Strategy and Outlook

LG Energy Solution was spun off from LG Chem’s battery subsidiary in December 2020 and listed on the Korea Exchange in January 2022. LG Chem retains around an 82% share of LGES. The company is one of the top lithium-ion rechargeable battery suppliers globally. It is the third-largest global battery maker for electric vehicles with 9% share by shipment in 2025, according to SNE Research. Customers include many leading automakers such as Tesla, General Motors, Volkswagen, and Hyundai.

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LG Energy Solution Ltd

Largest Korean Battery Producer Expanding in American Market; Positive Outlook Mostly Priced In

Business Strategy and Outlook

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