An additional RMB 5.7 billion! After LG Energy Solution’s major investment in China, its China headquarters settles in Nanjing.

To date, LG Energy Solution’s business spans three core areas: automotive batteries, small-format batteries, and energy storage systems (ESS). It employs over 34,000 people globally and holds more than 25,000 patents—the highest number worldwide. As of now, LG Energy Solution has manufacturing bases in China, South Korea, the United States, Europe, and Indonesia. According to the '2024 Global Top 500 New Energy Enterprises', China’s 'Battery King' CATL ranks first, PowerChina second, and LG Energy Solution third. Looking solely at automotive batteries, as of 2023, CATL leads the global market with a 36.8% share; BYD follows closely with 15.8%; and LG Energy Solution ranks third with 13.6%. In the Chinese market, data shows that battery installations for new energy vehicles reached 387.7 GWh in 2023—a 31.6% year-on-year increase—and accounted for 55% of the global total. CATL and BYD lead with substantial market shares, while LG Energy Solution is the only foreign enterprise among the top ten. LG Energy Solution in China: Three factories—all in Nanjing LG Group began operations in Nanjing in 1995. To date, it has invested over USD 8 billion cumulatively in Nanjing’s Jiangning Economic and Technological Development Zone, established 10 enterprises there, and employed nearly 30,000 people. In the battery sector, LG Energy Solution operates three factories in Nanjing: AECI New Energy (Nanjing) Co., Ltd.; AECI New Energy Battery (Nanjing) Co., Ltd.; and AECI New Energy Technology (Nanjing) Co., Ltd. China has thus become one of LG Energy Solution’s most important strategic markets. In 2003—when LG Energy Solution was still part of LG Chem—it established its first factory in Nanjing’s Economic and Technological Development Zone: LG Chem (Nanjing) Information Electronics Materials Co., Ltd.—later renamed AECI New Energy (Nanjing) Co., Ltd. Initially, this facility produced polarizing plates, optical materials used in display panels. Starting in 2014, LG Chem gradually shifted focus toward automotive lithium-ion batteries. That same year, it formed a joint venture with a Chinese partner—Nanjing LG Chem New Energy Battery Co., Ltd.—and held the groundbreaking ceremony for the project in Nanjing’s Development Zone in October. In August 2018, LG Energy Solution established another base in Nanjing’s Jiangning Binjiang Development Zone, with a total investment of USD 3.3 billion. This facility focuses on producing and selling automotive batteries and ESS, primarily supplying Volkswagen and other automakers. In 2023, LG Energy Solution signed an agreement with Jiangning Binjiang Development Zone to add a new project dedicated to manufacturing bespoke batteries for General Motors. Upon full-scale production, annual sales are projected to increase by approximately RMB 4 billion. Then, in March this year, LG Energy Solution signed another agreement with Nanjing’s Jiangning Binjiang Economic Development Zone, adding roughly USD 800 million (approximately RMB 5.77 billion at the time) in total investment. The expansion covers production of automotive batteries and ESS, with key customers including Volkswagen and others. After multiple rounds of expansion, LG Energy Solution’s factories in Nanjing’s Qixia District (Xin Gang Development Zone) and Jiangning District (Binjiang Development Zone) now employ 10,000 people. Their lithium-ion battery products cover consumer batteries, automotive batteries, and ESS.

The five companies with the highest value in the new energy vehicle sector! LG ranks #1; China and South Korea each hold two spots.

Automobiles have always been a pillar industry with truly global reach. In 2023, the collective overseas expansion of China’s homegrown automotive supply chain became a hot topic—first with Chinese auto parts suppliers flooding into Mexico, and now with battery manufacturers aggressively capturing overseas markets. Currently, China is the world’s largest source of new energy vehicle (NEV) technology. Chinese NEV patent applications account for 41.20% of the global total; Japan ranks second with 18.56%. Although the U.S. and Germany rank third and fourth respectively, their patent application volumes lag significantly behind China’s. Today, we’ll review the world’s top five companies ranked by NEV patent volume and overall corporate value—and see how many are from China. NO.1 LG Chem Patent Value Score: 94.53 Founded in 1947 and headquartered in Seoul, South Korea, LG Chem operates across three major sectors: petrochemicals, advanced materials, and life sciences. It maintains over 60 production bases and subsidiaries across Asia, the Americas, and Europe—including battery joint ventures with major automakers such as General Motors, Stellantis N.V., and Hyundai Motor Group. LG Energy Solution currently holds over 24,000 patents. According to statistics, in the first half of 2023, its global installed capacity of automotive lithium-ion batteries reached 44.1 GWh—an increase of 50.3% year-on-year—with a 14.5% market share, ranking third globally, behind CATL (112 GWh, 36.8%) and BYD (47.7 GWh, 15.7%). After nearly 30 years of technological accumulation and market expansion, LG Energy Solution has become a world-class battery technology provider, supplying numerous global automakers—including Hyundai, Kia, General Motors, Ford, Volkswagen, Renault, and Volvo. Looking ahead, LG Energy Solution aims to raise its global automotive lithium-ion battery installation volume to 180 GWh by 2025—accounting for over 20% of the global market. It also plans to launch its next-generation battery technology—NCMA (nickel-cobalt-manganese-aluminum) batteries—in 2024. These batteries promise higher energy density, lower cost, and improved safety. Furthermore, LG Energy Solution targets commercialization of solid-state batteries by 2027—offering faster charging, longer lifespan, and reduced fire risk. Additionally, LG plans to commercialize polymer-based semi-solid-state batteries by 2026 and is actively developing sulfide-based solid-state batteries. NO.2 Contemporary Amperex Technology Co., Limited (CATL) Patent Value Score: 94.43 CATL needs no introduction—it specializes in research, development, manufacturing, and sales of power battery systems for new energy vehicles and energy storage systems. CATL possesses world-leading capabilities in power battery system supply and has established strategic partnerships with numerous renowned domestic and international automakers—including BMW, Tesla, Volkswagen, SAIC Motor, Geely, FAW Group, Dongfeng Motor, and GAC Group. CATL has ranked first globally in power battery deployment volume for six consecutive years and first globally in energy storage battery shipments for two consecutive years.

LG Chem Signs MoU with Volkswagen to Develop Plastics and Composite Materials

Sep 28, 2026

LG Chem and Volkswagen Group signed an MoU to collaborate on developing next-generation environmentally friendly plastics and composites for automotive use. The partnership will explore ABS, engineering plastics, and recycled materials to enhance vehicle performance and sustainability.

icis

2026-01-23

LG Chem Partners with Yinglian to Establish Joint Lab for Lithium Battery Material Innovation

2026-01-29

LG Chem's petchem losses widen on narrowing margins, one-off overseas costs

2026-02-11

Activist UK Investor Calls on LG Chem to Restore Share Performance, Monetize LGES Stake

2026-03-05

LG Chem to Cut Cracker Run Rates to 60%

2026-03-06

LG Chem declares force majeure on certain DOTP export contracts