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LG Energy reaches for EV battery crown with record $10bn IPO

South Korean company boosts output in 6 countries, with eye on China's CATL

LG Energy Solution ranks a close second in global EV battery market share, behind China's CATL. (Photo courtesy of LG Energy Solution)

SEOUL/GUANGZHOU -- South Korea's LG Energy Solution has its sights on taking the EV battery crown from China's CATL, with plans to expand production in six countries and to develop cutting-edge power cells with the proceeds of its potentially record-breaking stock market debut.

LG Energy and parent LG Chem aim to raise 12.75 trillion won ($10.7 billion) through the former's initial public offering on Jan. 27 -- more than double the current record in South Korea of 4.9 trillion won held by Samsung Life Insurance in 2010.

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