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Tue, March 28, 2023 | 11:57
Companies
LG Energy Solution seeks renewed growth through in-house ventures
Posted : 2023-03-19 15:31
Updated : 2023-03-19 15:31
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KooRoo's battery swapping station / Courtesy of LG Energy Solution
KooRoo's battery swapping station / Courtesy of LG Energy Solution
LG Energy Solution (LGES) has pushed ahead with its new businesses and helped its employees increase competency, by establishing in-house companies, such as KooRoo and AVEL, the battery manufacturing unit of LG Group said Sunday.

KooRoo, which was established last year, started trying this year to commercialize its battery swapping stations (BSS). These enable electric motorcycle riders to swap their battery packs at stations, instead of spending time recharging their batteries.

"If the electric motorcycle ecosystem grows, it will help delivery services, be eco-friendly, quiet and safe," said Ahn Hong-duk, head of KooRoo. "We will prioritize developing BSS-tailored battery packs and stations, and then will nurture the electric motorcycle ecosystem by utilizing data we will collect."

AVEL, which was established last October, seeks to run virtual power plants on Jeju Island by utilizing energy storage systems (ESS).

Given that the use of renewable energy has prevented the stable operation of energy grids under bad weather, AVEL decided to take advantage of ESS run by LGES.

"We plan to develop a system that can accurately predict the amount of renewable energy generation and efficiently utilize and manage the energy stored in ESS," said Kim Hyun-tae, head of AVEL.

LGES has developed various measures for the independent operation and stable settlement of its in-house companies.

In the early days of their launch, the in-house companies have been operated as independent organizations under the supervision of a chief strategy officer. They have built business operation infrastructure rapidly with all round support from related business units in the group.

"We expected the newly launched 'companies-in-companies' to overcome the fear of failure and push forward with innovative thinking and endeavors to increase the future customer value for the company," LGES CEO Kwon Young-soo said. "We will work to make LGES a company that seeks mutual growth with individual workers through the introduction of more independent in-house companies in the future." (Advertorial)


 
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