LG Energy Solution's Canadian arm marks production of 1 million battery cells

SEOUL, Feb. 13 (Yonhap) -- LG Energy Solution Ltd. said Friday its Canadian affiliate has celebrated the production of 1 million battery cells three months after starting full-fledged production.

The South Korean battery maker said the milestone was achieved by NextStar Energy, based in Ontario, which currently produces lithium iron phosphate (LFP) battery cells for energy storage system (ESS) applications.

"Each battery cell is manufactured through highly specialized processes, advanced automation and multi-stage quality verification to ensure performance and reliability standards are met," NextStar Energy said in a release.

LG Energy Solution said it will continue its efforts to foster NextStar Energy as a production hub for batteries for both electric vehicles (EVs) and ESS applications.

Last week, LG Energy Solution said in a regulatory filing that it plans to acquire the full stake in NextStar Energy, launched as a joint venture with Stellantis N.V. in 2022, by the end of June.

LG Energy Solution said the move is aimed at proactively addressing changes in the North American market and gaining an early foothold in the fast-growing ESS market.

colin@yna.co.kr
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