LG Chief Visits Indonesia Battery Plant to Inspect Group’s EV Transition Efforts
LG Group Chairman Koo Kwang-mo visited a battery factory in Indonesia, emphasizing the need for competitive differentiation in EV products. The facility is Indonesia’s first of its kind and is part of LG’s global production network. Koo also toured the LG Electronics complex, which integrates research and production, enhancing the company’s outreach in Southeast Asia.
Chairman Koo Kwang-mo of LG Group is currently in Indonesia, where he is inspecting the company’s battery manufacturing operations amid a dip in global electric vehicle (EV) demand. This visit highlights LG’s commitment to enhancing its competitive edge in the EV market. Koo toured the Hyundai LG Indonesia Green Power facility, which is a joint venture with Hyundai Motor Group, located just outside Jakarta. This facility, notable for being Indonesia’s first EV battery cell plant, spans 320,000 square meters and boasts an annual production capacity of 10 gigawatt-hours.
Throughout his visit, Koo urged employees to hone their focus on achieving unique advantages for LG’s battery products compared to competing firms. He stressed that close collaboration with partners will be vital for navigating the current slowdown in global EV demand growth. Koo’s agenda also included a tour of LG Electronics’ production and research complex in Cibitung, West Java, where various consumer electronics including TVs and monitors are produced.
Since setting up a research unit adjacent to the Cibitung plant last year, LG Electronics has been working on creating an integrated base that combines research, production, and sales functions. This initiative is designed to enhance LG’s market strategy in Southeast Asia. At the Jakarta sales office, Koo engaged local executives in discussions focused on understanding customer preferences, distribution trends, and competitive conditions across the region.
LG is strategically looking to seize growth opportunities in what is referred to as the Global South, which encompasses emerging markets like India, Indonesia, Latin America, the Middle East, and Africa. The company aims to capitalize on the economic potential these regions offer, believing that the momentum in these markets will be beneficial for its growth strategies.
Chairman Koo Kwang-mo’s visit to Indonesia underscores LG Group’s dedication to strengthening its position in the EV battery market amid challenges. By focusing on collaboration and competitive differentiation, LG is not only expanding its production capabilities but also aligning its operations with the evolving demands of the Southeast Asian market. This approach reflects the company’s broader strategy to tap into emerging markets and leverage economic growth opportunities.
Original Source: en.yna.co.kr
