Recently, according to Japanese media statistics, South Korea's second largest power battery manufacturer, LG New Energy, will establish six factories in North America by 2025. At present, LG New Energy currently has two factories in North America, one self-built factory and a ba

text: Original by Dongchedi Weiwei

[Original by Dongchedi Industry] Recently, according to Japanese media statistics, South Korea's second largest power battery manufacturer, LG Energy Solution, will establish 6 factories in North America by 2025. Japanese media said that entering North America will become the key to catching up with China CATL, the largest manufacturer of new energy in LG.

LG New Energy

At present, LG New Energy currently has 2 factories in North America, one self-built factory, and a battery factory located in Ohio and GM. In the future, LG New Energy will also jointly build two new battery factories with General Motors, one new factory with European Stellantis, and one new factory with Honda.

Currently, LG New Energy's production capacity in North America accounts for about 7%, and is expected to increase to 45% by 2025. LG New Energy CEO Quan Hshou positioned the North American market as "the most actively expanding market."

8 global power battery installed capacity in August, CATL, BYD and LG New Energy ranked in the top three

1-August global power battery installed capacity

However, the challenges facing LG New Energy currently come from not only CATL, but also from BYD. According to the global power battery installed capacity rankings released by SNE Research, a Korean market research institution recently, CATL firmly occupies the first place in terms of installed capacity in August or the cumulative installed capacity from January to August. However, BYD once again surpassed LG New Energy to rank second in the monthly installed capacity ranking, and the gap with LG New Energy in terms of cumulative installed capacity from January to August has further narrowed. With BYD's new car delivery volume exceeding 200,000 in September this year and expected to win the global new energy vehicle sales championship this year, BYD's battery installed capacity will also further increase, bringing greater pressure to LG New Energy.

Currently, Japanese and Korean companies account for more than 90% of the global market in the power battery market. Japanese and Korean battery companies led by LG New Energy are making big moves into the US market. Currently, Chinese companies have no factories in the United States. However, there are reports that CATL is planning to build a factory in Mexico to supply batteries for Tesla and Ford.