LG Chairman Koo Inspects Indonesia Operations Amid EV Demand Slowdown

Koo toured the production lines of Hyundai LG Indonesia Green Power, a joint venture between LG Energy Solution and Hyundai Motor Group, located near Jakarta, earlier this month.

The 320,000 square-meter facility, with an annual capacity of 10 gigawatt-hours, is Indonesia's first EV battery cell plant and is a key pillar in LG's global battery production network.

Source : Freepik

LG Group Chairman Koo Kwang-mo has visited Indonesia this month to inspect the group's battery manufacturing and research operations, according to the group on Monday, underscoring efforts to strengthen its competitiveness amid a temporary slowdown in global electric vehicle (EV) demand.

According to group officials, Koo toured the production lines of Hyundai LG Indonesia Green Power, a joint venture between LG Energy Solution and Hyundai Motor Group, located near Jakarta, earlier this month, reports Yonhap news agency.

The 320,000 square-meter facility, with an annual capacity of 10 gigawatt-hours, is Indonesia's first EV battery cell plant and is a key pillar in LG's global battery production network.

During the visit, Koo called on employees to focus on securing differentiated competitiveness for LG's batteries, particularly in comparison with global rivals, and emphasized the importance of close collaboration with partners to overcome the slowdown in global EV demand growth.

As part of the visit, the LG chief also toured LG Electronics' production and research complex in Cibitung, West Java, where products such as TVs, monitors and signage systems are manufactured.

Since establishing a local research unit next to the Cibitung plant in 2023, LG Electronics has built an integrated base that connects research, production and sales operations, using it as a base for targeting the broader Southeast Asian market, the report mentioned.

At LG Electronics' Jakarta sales office, Koo met with local executives to discuss customer needs, distribution trends and competitive dynamics in Southeast Asia.

The leading company has been ramping up efforts to tap into growth opportunities in the so-called Global South that includes India, Indonesia, Latin America, the Middle East and Africa, seeking to ride the economic momentum in these emerging markets, said the report.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)