LG Energy Solution reports 9.6 trillion won revenue for third quarter 2026

LG Energy Solution reported consolidated revenue of 9.6 trillion won and an operating profit of 756 billion won for the third quarter of 2026. The results reflect a 27.6% quarter-on-quarter increase in revenue, aided by a 416.9 billion won production incentive in North America and a rebound in operational efficiency at its European facilities.

Growth was primarily driven by the energy storage system (ESS) sector and steady demand for cylindrical battery models used in electric vehicles. The company secured its first direct-supply BTM (Behind-the-Meter) project for a major technology client, signaling a strategic shift toward supporting AI data center infrastructure. Simultaneously, the company increased volumes for its high-voltage mid-nickel battery products in European markets, helping to offset previous cost burdens.

Looking toward 2027, the company aims to expand its North American presence significantly, targeting over 70 GWh in ESS production capacity and more than 20 GWh in cylindrical battery output. To mitigate geopolitical and supply chain risks, LG Energy Solution is diversifying its cathode suppliers and localizing raw material procurement in key regions.