battery megafactory

LGES aims to surpass CATL with $10.8 billion battery IPO

LG Energy Solution (LGES) said its $10.8 billion initial public offering this week in Korea will give it firepower to become the world’s biggest battery maker.

Yet surpassing Chinese rival CATL will depend on significant new investment as well as expanding the company’s production of lithium iron-phosphate batteries. In addition, LGES will need to develop new technologies such as solid-state batteries.

This week the company’s chief executive Kwon Young-soo said the company . . .

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