LG Energy Solution Ltd.

Y, y creo que se están venciendo ese tipo de contratos y se están renovando a precios más bajos, ¿no? Otro tema también son las compe-- la competencia que tienes.

Tienes a BYD, a LG Energy, que están realmente comprimiendo precios globalmente porque hay más, eh, opciones que solamente el tema de, de energía por parte de Tesla, ¿no? Y luego, y está la fusión.

Vale.

Esto que se ha hablado muchísimo, lo hablábamos cuando se reportó los números de SpaceX.

In spring 2025, within a couple of weeks of each other, General Motors and Ford both announced they were working on lithium-manganese-rich batteries for future EVs.

Since then, Ford hasn't said much about its LMR work, but GM has provided several updates, including a recent announcement that it will be producing these new cells at the Spring Hill, Tennessee, battery plant it operates with LG Energy Solutions starting in 2028.

At the GM Forward Technology event in New York today, it was reinforced that the LMR batteries, which provide nearly the same energy density as nickel-rich cells currently used at a similar cost to lithium-iron phosphate, will be one of the core of its next-generation EVs.

GM's fourth-generation EVs are currently under active development and seek to address many of the shortcomings of the current generation, including cost, weight, and efficiency.

[crowd cheering] And even as the administration scales back support for wind and solar, batteries remain eligible for federal tax incentives, including an additional benefit for projects using US-made components.

To get a first-hand look at where that domestic supply is coming from, we traveled to Lansing, Michigan, home to LG Energy Solution's largest wholly owned US battery cell plant currently in operation.

This is a really massive facility.

It's 2.8 million square feet, um, 226 acres, uh, on the site.

In August, President Trump issued an executive order targeting reliance on foreign-made grid equipment, including battery storage, and pushing energy developers toward US-made alternatives.

The government policy has really enabled the US industry to develop.

Devin Wilson leads sales for LG Energy Solution's North American grid scale storage business.

He said demand is pulling the market forward, but federal policy helped build the factories needed to meet that demand.

Obviously, this is a, a plan- a show with a lot of technologies on display.

Um, uh, I...

A few months ago, um, LG Energy Solutions opened up their big, uh, new battery plant outside of Lansing here in Michigan.

Uh, Bob Lee, who was at that event, he's their...

I forget what position he is.

He's one of the leaders at, uh, LG Energy Solutions.

Sorry, Bob.

Um, he was speaking today at the keynote as well, and he pointed out two of the things that LG has learned when it comes to building these plants.

Next, let's travel north to Quebec, Canada, where our continent's biggest producing lithium mine just scored a big commercial victory.

On October the 8th, happy birthday to me, and Elevra Lithium officially signed a binding supply agreement with LG Energy Solution for 240,000 dry metric tons of spodumene concentrate.

The rock is coming straight out of North American lithium mine in La Cornée, Quebec.

Spodumene is the hard lithium-rich granite rock that gets crushed and concentrated and then refined into battery-grade chemicals.

Together, CATL and BYD held 54.5% of the market.

LG Energy Solution, or LGES, ranked third with 68.3 GWh, up 0.9%.

CALB was fourth with 44.4 GWh, followed by Goshen Hitech with 41.5. Panasonic remained sixth with 29.7 GWh, while EV ranked seventh with 29.5. SKON fell three places to 8th.

Its installations dropped 14.5% to 24.9 GWh, making it the only one of the top 10 companies to record a year-on-year decline.

Standard Lithium's September coverage highlighted a commercial milestone.

Smack over lithium, its partnership with Equinor signed a binding ten-year take-or-pay agreement to supply LG Energy Solution with eight thousand tons of battery-quality lithium carbonate annually after commercial production begins.

The agreement was announced August thirty-first.

An offtake helps establish a customer and potential demand.