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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] LG Energy Solution is reportedly in negotiations with Japan-based electronics company Omron to supply lithium iron phosphate (LFP) batteries for energy storage systems (ESS), according to industry sources on Monday.
Sources in the battery sector confirmed that LG Energy Solution is in discussions with Omron, a long-time business partner, over a new supply deal for ESS batteries. While the deal has not been finalized, industry insiders estimate the contract could be worth several hundred billion KRW (potentially in the hundreds of millions of USD).
The potential agreement reflects LG Energy Solution’s recent momentum in the global ESS market. On March 24, the company was selected as a key partner for a large-scale ESS project led by Poland’s state-run power utility PGE. It also signed a five-year strategic partnership with U.S.-based Delta Electronics to supply 4GWh of residential ESS products.
Industry analysts attribute LG Energy Solution’s recent success to its flexible response to market demand through localized production in Europe and North America. The company plans to supply ESS products from its facilities in Wrocław, Poland, and Holland, Michigan, USA.
To meet growing ESS demand, LG Energy Solution will convert existing EV battery lines at the Wrocław plant into ESS production lines. In the U.S., instead of building a new factory in Arizona as previously planned, the company will install ESS production lines within the expanded EV battery facilities at its Michigan plant—effectively accelerating North American production by a year.
An LG Energy Solution representative commented, “We are unable to confirm any details regarding specific customers.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
