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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":689,"relatedVideos":690},112468577747654,"305388bd-7dd9-4609-89bc-10a27bedd22e","LGES to start ESS battery production in US next year to tap into booming market","lges-to-start-ess-battery-production-in-us-next-year-to-tap-into-booming-market","article/lges-to-start-ess-battery-production-in-us-next-year-to-tap-into-booming-market",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":667,"featured":51,"reporter":668,"_editable":672,"component":673,"seo_title":543,"categories":674,"visibility":681,"author_company":49,"featured_image":682,"seo_description":667,"author_full_name":49,"author_job_title":49,"formattedDate":687,"formattedArticleDate":688},"ebdc0804-9643-441c-b1eb-0d700dc51f79","2024-11-06 00:00",[550,553],{"slug":551,"name":552},"lges","LGES",{"slug":554,"name":555},"usa","USA",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,586,607,612,617,622,627,634,647,652,657,662],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"South Korean battery producer LG Energy Solution (LGES) will start energy storage systems (ESS) battery production in the US in 2025 as it looks to ","text",{"text":577,"type":575,"marks":578},"tap the booming demand for energy storage",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/eve-energys-20-gwh-agreement-with-aesi-shows-growing-role-of-ess-demand?_branch_match_id=1544395655786884608&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWzzB2DS8yMPDM9E%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAnrR5Q0gAAAA%3D","url",{"text":585,"type":575}," in western markets.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589,591,597,599,605],{"text":590,"type":575},"LGES said it plans ",{"text":592,"type":575,"marks":593},"to launch high capacity lithium iron phosphate",[594],{"type":580,"attrs":595},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/lges-doubles-down-on-lfp-but-nickel-based-chemistries-central-to-long-term-plans",{"text":598,"type":575}," (LFP) ESS batteries and expects substantial revenue from long-term, large-scale power grid installations in North America. The battery maker is also considering converting EV production lines to ESS in response to the ",{"text":600,"type":575,"marks":601},"European market demand",[602],{"type":580,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/lges-to-supply-fords-commercial-evs-in-europe",{"text":606,"type":575},".",{"type":570,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":575},"“This is a key development to strengthen LGES position in the ESS market,” said Aran Waid, senior analyst at Benchmark.",{"type":570,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":575},"“Commitment to diversifying into LFP alongside its established nickel cobalt and manganese (NCM) capabilities make LGES a more flexible and competitive supplier in the ESS space. The move could help them compete with Chinese competitors in a market where customers prioritise cost, safety and cycle life,” said Waid.",{"type":570,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":575},"LGES’ move comes at a time when it is navigating declining profit from its electric vehicle (EV) business amid a slowing EV demand in Western markets. This has been compounded by rising interest in hybrids over fully electric offerings.",{"type":570,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":575},"“Slowing demand and delays from OEMs on their EV production plans opens up the opportunity to focus and capitalise on the growing ESS market,” said Waid.",{"type":628,"attrs":629,"content":631},"heading",{"level":630,"textAlign":49},4,[632],{"text":633,"type":575},"LGES’ battery ambitions in the US",{"type":570,"attrs":635,"content":636},{"textAlign":49},[637,639,645],{"text":638,"type":575},"Besides South Korea, LGES has battery plants in the US, Poland as well as in China. In the US, ",{"text":640,"type":575,"marks":641},"the Inflation Reduction Act",[642],{"type":580,"attrs":643},{"href":644,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/us-45x-tax-credit-revisions-should-go-further-miners-say",{"text":646,"type":575}," (IRA) provides substantial incentives to South Korean companies such as LGES to increase their battery making footprint there. ",{"type":570,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":575},"Back in June, LGES said it was pausing construction of an ESS battery line at the Arizona plant. ",{"type":570,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":575},"“LGES paused construction on the LFP line in Arizona and switched focus to Wroclaw, Poland. They do however have a small line operational in Michigan and that will likely be the focus for their LFP plans in the US,” said Evan Hartley, research manager at Benchmark.",{"type":570,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":575},"Hartley warns that the initial volumes of LGES’ ESS LFP cells will be minor compared to what can be purchased from a Chinese company like EVE, CATL or Gotion.",{"type":570,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":575},"“While LGES has an advantage over Chinese firms, they are at a disadvantage when it comes to scale and experience in LFP manufacturing, and have less established supply chains within that space,” he said.","South Korean battery producer LG Energy Solution (LGES) will start energy storage systems (ESS) battery production in the US in 2025 as it looks to tap the booming demand for energy storage in western markets. LGES said it plans to launch high capacity lithium iron phosphate (LFP) ESS batteries and expects substantial revenue from long-term, […]",[669],{"slug":558,"name":559,"content":670},{"job_title":561,"image":671,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ebdc0804-9643-441c-b1eb-0d700dc51f79\", \"id\": \"\"}-->","article",[675,678],{"slug":676,"name":677},"batteries","Batteries",{"slug":679,"name":680},"ess","ESS","private",{"id":49,"alt":683,"name":683,"focus":683,"title":683,"source":683,"filename":684,"copyright":683,"fieldtype":685,"meta_data":686,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/3daf190ca7/bm-lges-us-michigan.jpg","asset",{"alt":683,"title":683,"source":683,"copyright":683},"Nov 06, 2024","6th November 2024",[],[],1783093116538]