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LG Energy Solution sets up new R&D center for future technologies

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LG Energy Solution researchers at the company's R&D center in Daejeon / Courtesy of LG Energy Solution

LG Energy Solution researchers at the company's R&D center in Daejeon / Courtesy of LG Energy Solution

LG Energy Solution has set up a new R&D center exclusively designed for next-generation battery technologies, the firm said Monday.

Managed directly by the battery maker’s CEO Kim Dong-myung, LG Energy Solution Future Technology Center aims not only to study cutting-edge technologies but also to develop commercialization processes in the field of batteries.

“The center will study comprehensive energy solutions in various fields including secondary batteries for vehicles, light lithium-sulfur for planes and lithium-metal batteries,” the company said in a press release.

LG Energy Solution Vice President Chung Geun-chang is expected to head the center. The firm added Chung is a battery technology expert who has been in the business for about 30 years.

“The center will do its best to develop top-notch next-generation battery to offer differentiated experiences for our customers,” Chung said.

LG Energy Solution invested more than 1 trillion won ($760 million) in the company’s R&D operation last year despite faltering demand for electric vehicles. The figure is up 18.4 percent from the previous year’s 876 billion won, according to the company’s 2023 business report.

In November, the firm said it successfully developed a source technology for lithium-metal batteries through a collaboration with the Korea Advanced Institute of Science and Technology. The related research paper was also published in the international scientific journal Nature Energy.

Lithium-metal batteries are considered to be a next-generation battery replacing conventional graphite-based anode material of lithium-ion batteries.

The company also spent 10.89 trillion won on production facilities last year, jumping 73 percent from 6.29 trillion won the previous year.

“LG Energy Solution aims to enhance its competitiveness in technology while strengthening customer experience this year,” Kim said. (advertorial)