LG Energy Solution (373220)
LG Energy Solution (373220) is the world’s second-largest battery maker, producing EV and energy-storage cells across Korea, China, and the United States. In ETFpedia it anchors both the solid-state battery and Korea manufacturing themes, with a major US ESS push through a Tesla LFP deal, even as it swung to a loss in early 2026.
| Ticker | 373220 |
|---|---|
| Exchange | KOSPI |
| Sector | Batteries · EV & ESS Cells |
| Country | South Korea |
| Wikidata | Q109464416 |
| Last updated | 2026-06-04 |
Next event:Next report · H1 2026 반기보고서, estimated · Estimated from Korea's 45-day semi-annual filing deadline; not company-confirmed. Last report: Q1 2026 분기보고서 filed 2026-05-14. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-14)
LG Energy Solution's Q1 2026 DART filing reported an operating loss of ₩-2,078억 (KRW -207.8 billion) and a net loss of ₩-9,440억 (KRW -944.0 billion); the consolidated revenue line was not disclosed in the dataset, so FY2025 revenue of ₩23.67T is used as the anchor.
| Operating profit | ₩-2,078억 (KRW -207.8B)-155%YoY · Operating loss; swung from ₩3,747억 profit a year earlier |
|---|---|
| Net income | ₩-9,440억 (KRW -944.0B)-517%YoY · Net loss |
Recent & upcoming events
- · FY2025 사업보고서 filed.Full-year 2025 revenue ₩23.67T (-8% YoY) with operating profit of ₩1.35T (+134% YoY, aided by US IRA tax credits) and net income of ₩808억. (source)
- · Tesla confirmed as buyer in $4.3B US ESS LFP deal.US government confirmed Tesla as the buyer in a roughly $4.3 billion LG Energy Solution deal for domestically made LFP cells for Megapack energy storage, sourced from LGES's Michigan plant. (source)
- · Q1 2026 분기보고서 filed.Company swung to an operating loss of ₩-2,078억 and a net loss of ₩-9,440억 in Q1 2026. (source)
Figures are consolidated (연결) per LG Energy Solution's DART filings. Q1 2026 consolidated revenue was not in the source dataset; FY2025 revenue (₩23.67T) is the anchor, and Q1 operating and net losses are reported as filed.
Figures are as of 2026-05-14 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does LG Energy Solution do?
LG Energy Solution (LGES) makes rechargeable lithium-ion batteries at global scale. Its core is pouch and cylindrical cells for electric vehicles, supplied to major automakers, alongside a fast-growing energy-storage business built on lithium iron phosphate (LFP) cells and modules for power grids and commercial use. It manufactures in Korea, China, and the United States, and ranks as the world’s #2 battery maker, which is why it sits squarely in the Korea manufacturing theme. In FY2025 it reported revenue of ₩23.67 trillion (DART 사업보고서).
Why is LG Energy Solution a solid-state battery company?
LGES is investing in the next process generation that underpins the solid-state battery theme: dry electrodes and, further out, all-solid-state chemistry. It has completed a dry-electrode pilot line in Ochang and aims to mass-produce using the dry process from around 2029, starting with cathodes before extending to anodes.
“LG Energy Solution has completed a pilot line in Ochang and continues development work, with the goal of mass-producing LFP using the dry process from 2029.”
These are longer-dated milestones, so solid-state and dry-process technology are best read as future optionality rather than today’s revenue.
What did LG Energy Solution report most recently?
The story is mixed, and the recent trend is honest about a downturn. For full-year 2025, LGES reported revenue of ₩23.67 trillion, down 8% year over year, with operating profit of ₩1.35 trillion (up 134%), helped by US tax credits, and net income of ₩808억 (DART 사업보고서). Q1 2026 then turned negative: the company posted an operating loss of ₩-2,078억 and a net loss of ₩-9,440억 (DART 분기보고서). The Q1 2026 consolidated revenue line was not available in our source dataset, so FY2025 revenue is used as the anchor here. A bright spot is the US ESS pipeline: the US government confirmed Tesla as the buyer in a roughly $4.3 billion deal for US-made LFP Megapack cells from LGES’s Michigan plant (ESS News).
What are the risks for LG Energy Solution?
- Earnings volatility. After a profitable 2025, the company swung to an operating loss of ₩-2,078억 and a net loss of ₩-9,440억 in Q1 2026, showing how quickly the cycle can turn.
- Policy dependence. 2025 operating profit leaned on US IRA tax credits; changes to that support would hit reported earnings.
- EV-demand softness. Slower EV adoption pressures the core automotive-cell business and shifts weight onto ESS.
- Long-dated technology bets. Dry-electrode and solid-state targets sit late in the decade, with execution and yield risk before any payoff.
Related securities, concepts & terms
- Solid-State Batteries & Energy Storageparent
- Korea Manufacturing Core Allianceparent
- Samsung SDI (006400)sibling
Related indices & ETFs
- Akros Solid-State Battery Index · AkrosSolid-state-battery thematic index that includes this company.
Frequently asked questions about LG Energy Solution
What does LG Energy Solution do?
LG Energy Solution is the world's second-largest battery maker. It produces pouch and cylindrical lithium-ion cells for electric vehicles and LFP cells and modules for energy storage systems (ESS), with manufacturing in Korea, China, and the United States. In FY2025 it reported revenue of ₩23.67 trillion (DART 사업보고서).
Why is LG Energy Solution part of the solid-state battery theme?
It is a leading EV cell maker investing in the next process generation, including dry electrodes and all-solid-state chemistry. LGES has completed a pilot line in Ochang and is targeting mass production using the dry process from around 2029, applying dry electrodes to cathodes first (Seoul Economic Daily). Solid-state is a longer-dated milestone, not current revenue.
Did LG Energy Solution make money recently?
It is mixed. For full-year 2025 LGES reported revenue of ₩23.67 trillion (down 8% YoY) and operating profit of ₩1.35 trillion (up 134%, aided by US tax credits), with net income of ₩808억 (DART 사업보고서). But Q1 2026 swung to an operating loss of ₩-2,078억 and a net loss of ₩-9,440억 (DART 분기보고서). The Q1 2026 consolidated revenue line was not available in our source dataset.
What is LG Energy Solution's Tesla deal?
In 2026 the US government confirmed Tesla as the buyer in a roughly $4.3 billion deal for LG Energy Solution to supply US-made LFP cells for Megapack energy storage, produced at its Michigan plant (ESS News). The deal is central to LGES's US ESS push as EV demand stays soft.
When does LG Energy Solution next report earnings?
Korean issuers do not pre-announce earnings dates. Based on Korea's 45-day semi-annual filing deadline, the H1 2026 반기보고서 is expected around August 14, 2026; that date is estimated, not company-confirmed. LGES last filed its Q1 2026 분기보고서 on May 14, 2026 (DART).
Sources & references
- LG에너지솔루션 분기보고서 (2026.03) · LG Energy Solution / DART (Financial Supervisory Service), 2026-05-14
- LG에너지솔루션 사업보고서 (2025.12) · LG Energy Solution / DART (Financial Supervisory Service), 2026-03-12
- Tesla confirmed by US govt as mystery buyer in $4.3 billion LG Energy Solution deal for domestic Megapack 3 production · ESS News, 2026-03-18
- LG Energy Solution Targets China's Battery Dominance with Dry Electrode Process · Seoul Economic Daily, 2026-04-28