Company Directory - LG Energy Solution
Company Details - LG Energy Solution
LG Energy Solution
WebsiteSouth Korea
LG Energy Solution is a South Korean battery manufacturer specializing in the development of battery cells and solutions for electric vehicles. The company plays a significant role in the global battery industry, providing advanced battery technology that supports a sustainable future.
CCI Score
CCI Score: LG Energy Solution
30.39
-0.09%
Latest Event
LG Cancels US$7.7bn EV Battery Project in Indonesia
LG Energy Solution canceled its US$7.7 billion electric vehicle battery project, a decision that has major implications for Indonesia’s downstream industrial strategy and technology transfer, potentially undermining local economic autonomy and development.
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DISSENTER
LG Energy Solution is currently rated as a Dissenter.
Latest Events
- APR222025
LG Energy Solution canceled its US$7.7 billion electric vehicle battery project, a decision that has major implications for Indonesia’s downstream industrial strategy and technology transfer, potentially undermining local economic autonomy and development.
-50
Business Practices and Ethical Responsibility
May 14
By canceling a major investment project, LG Energy Solution is seen as neglecting its role in supporting local industrial development and technology transfer. This decision potentially harms job creation and economic stability in regions that could benefit from diverse and sustainable investments, thus negatively impacting business practices and ethical responsibility.
LG Investment Cancellation and Its Impact on Indonesia's Downstream Strategy
-40
Economic and Structural Influence
May 14
The cancellation has significant economic and structural implications, potentially delaying the technology transfer and reinforcing import dependency. This could contribute to a less diversified economic structure in Indonesia, limiting local investment and bolstering reliance on external players, which is detrimental from a perspective focused on worker rights and local economic sovereignty.
LG Investment Cancellation and Its Impact on Indonesia's Downstream Strategy
- FEB112025
LG Energy Solution has been recognized for its sustained ESG improvements and advancements in battery recycling technology, positioning it among the top sustainable companies globally. The firm’s aggressive carbon reduction initiatives and commitment to net-zero emissions, as highlighted in S&P Global’s 2025 Sustainability Yearbook and Corporate Knights’ report, underline its leadership in ethical business practices and technology innovation.
+80
Business Practices and Ethical Responsibility
May 14
LG Energy Solution's comprehensive ESG strategy—including systematic approaches to reducing carbon emissions and achieving net-zero operations—demonstrates strong ethical business practices. These measures promote corporate accountability and sustainable practices, which indirectly oppose authoritarian tendencies by fostering inclusive and transparent operations.
LG Energy Solution outpaces battery rivals in global sustainability rankings
+70
Technology and Services Impact
May 14
The firm's expansion into battery recycling and advanced renewable energy solutions underscores its commitment to leveraging technology for sustainable progress. This move not only enhances its competitive standing in the technology sector but also contributes to broader social and environmental benefits, aligning with progressive values.
LG Energy Solution outpaces battery rivals in global sustainability rankings
- JUL012024
LG Energy Solution has released its comprehensive Global Human Rights & Labor Policy, reaffirming its commitment to upholding international labor standards and human rights. The policy prohibits forced labor, child labor, and discrimination while promoting DEI, safe working conditions, and ethical supply chain practices.
+85
Labor Relations and Human Rights Practices
May 14
The published policy clearly outlines proactive measures to protect worker rights and enforce robust labor standards, including commitments to non-discrimination, DEI, and ethical recruitment practices. This represents a progressive step toward ensuring human dignity and resisting authoritarian, exploitative labor practices.
- OCT122023
OSHA proposed a $270,091 fine after identifying 19 health and safety violations at the GM and LG Energy Solution electric vehicle battery plant in Ohio. The violations included failures in providing adequate personal protective equipment and training, as well as insufficient safety installations, raising serious concerns about worker safety and labor conditions.
-80
Labor Relations and Human Rights Practices
May 14
The incident at the joint venture plant reveals significant lapses in ensuring worker health and safety standards. Such violations are indicative of poor labor relations and human rights practices, which have negative implications in the context of ethical business practices and worker protections.
- AUG242023
Ultium Cells, the joint venture between LG Energy Solution and General Motors, reached a tentative agreement with the United Auto Workers (UAW) on August 24, 2023, to boost wages by 25% for approximately 1,100 Ohio-based workers, including retroactive back pay covering the increase from the previous year.
+80
Labor Relations and Human Rights Practices
May 14
The wage increase agreement negotiated by the UAW marks a significant win for labor rights in a critical part of the electric vehicle battery supply chain. This progressive move not only improves economic conditions for workers but also strengthens union power, countering authoritarian corporate cost-cutting practices and aligning with anti-fascist, pro-worker values.
LG Energy Solution, GM Joint Factory Agree to 25% Wage Increase
- JAN012023
LG Energy Solution has implemented a comprehensive Supplier Code of Conduct and conducts regular ESG evaluations and third-party audits across its supply chain. The initiative includes due diligence on suppliers for issues such as child labor, ethical sourcing of raw materials, and the use of blockchain for transparency, underscoring a proactive commitment to responsible supply chain management.
+70
Labor Relations and Human Rights Practices
May 14
By addressing critical issues such as child labor in the cobalt supply chain through due diligence and corrective actions, LG Energy Solution demonstrates its commitment to upholding labor rights and human rights. These measures contribute to stronger worker protections and ethical labor practices within its supply chain.
Managing ESG Risks in Our Supply Chains ｜ LG Energy Solution
+75
Supply Chain Ethics
May 14
LG Energy Solution's detailed Supplier Code of Conduct and systematic ESG risk evaluations ensure ethical sourcing and supply chain transparency. This proactive management, including third-party audits and the integration of blockchain technology, mitigates risks like sourcing from conflict-affected regions and child labor, reflecting strong ethical business practices.
Managing ESG Risks in Our Supply Chains ｜ LG Energy Solution
- JAN012021
LG Energy Solution has upgraded its supplier management system by shifting from a CSR evaluation to a comprehensive ESG evaluation for its suppliers. This new framework includes rigorous assessments on labor rights, child labor prohibition, safe working conditions, and environmental risks, and involves on-site audits for high-risk suppliers across its global production bases.
+80
Supply Chain Ethics
May 14
LG Energy Solution's revision of its supplier evaluation process to include ESG criteria demonstrates a commitment to ethical supply chain management. By incorporating assessments of labor rights, safe working conditions, and environmental standards, the company advances progressive practices and accountability, which align with anti-fascist and anti-authoritarian values.
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Corporate Financials
- Revenue
- 2025
- $17.12B
- Total Assets
- 2025
- $27.16B
- Operating Income
- 2025
- $2.95B
- Total Equity
- 2025
- $16.76B
Industries
- 334413
- Semiconductor and Related Device Manufacturing
- 335999
- All Other Miscellaneous Electrical Equipment and Component Manufacturing
- 336111
- Automobile Manufacturing
- 335911
- Storage Battery Manufacturing