LG Chem Ltd. often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. It was the 10th largest chemical company in the world by sales in 2017.
It was first established as the Lucky Chemical Industrial Corporation, which manufactured cosmetics. It is now solely a business-to-business company (consumer products division was spun off into LG Household & Health Care).
The company has eight factories in South Korea and a network of 29 business locations in 15 countries. This network includes a holding company in China, 14 overseas manufacturing subsidiaries, five marketing subsidiaries, seven representative offices, and two R&D centers.
LG Chem completed development and began mass production of Korea's first lithium-ion batteries back in 1999. At the end of 2011, LG Chem was the world's third-largest maker with an annual production capacity of 1 billion cells. It is also a supplier of automotive battery for electric vehicles, such as the Ford Focus, Chevrolet Volt and Renault ZOE.
LG Chem Michigan is a wholly owned subsidiary of LG Chem based in Holland, Michigan which operates a plant to manufacture advanced battery cells for electric vehicles in Holland, Michigan. The US$303 million Holland plant received 50% of its funding from U.S.
Department of Energy matching stimulus funds, and started manufacturing battery systems in 2013. The plant can produce enough cells per year to build between 50,000 and 200,000 battery packs for electric cars and hybrids such as the Chevrolet Volt by General Motors, the Ford Focus Electric,..
According to Statista, in the first half of 2020, South Korean company LG Chem's share in the electric vehicle battery market was 24.6 percent, rising to first-place in terms of global market share amongst other competitor companies.
According to Statista and en.wikipedia