LG Chairman Koo Reaffirms Commitment to EV Development During Indonesia Visit
LG Group Chairman Koo Kwang-mo emphasized the importance of electric vehicle battery development during his recent visit to Indonesia. He toured the HLI Green Power battery plant and underscored the need for competitive strategies amid global trade uncertainties. Koo’s trip reflects LG’s strong commitment to growth opportunities in one of its key markets, focusing on both production and R&D.
LG Group Chairman Koo Kwang-mo has made it clear that electric vehicle (EV) battery development is a fundamental focus for the company. His recent trip to Indonesia, which he undertook from June 2 to June 4, underscored the nation’s vital role for LG — a key player in both consumer demand and resource supply. Koo’s emphasis on building a competitive edge amid uncertainty from global trade dynamics, particularly stemming from the past U.S. tariffs under Donald Trump, was also pronounced during his visit.
During his time in Indonesia, Koo toured the HLI Green Power battery plant in West Java, a joint venture with Hyundai Motor Group. This facility, which sits on a sprawling 79 acres within the Karawang New Industry City, has an impressive capacity to produce 10 gigawatt-hours of battery cells annually, which can power some 150,000 electric vehicles each year. The plant has only been in mass production since April 2023 yet already boasts an impressive production yield of over 96%.
Koo’s meticulous inspection covered critical aspects of production—from electrode manufacturing to cell assembly—and he urged employees to push forward LG’s edge in battery technology. In a personal touch, he wrote a message on a battery cell reading: “I hope this becomes the heart of future mobility.”
This trip to the HLI Green Power facility represents Koo’s third overseas trip in 2023, following visits to India and the UAE earlier this year. His commitment to advancing battery technology has been evident in previous visits to other LG facilities including plants in Poland and the United States.
In March during LG’s annual shareholder meeting, Koo emphasized his ambition to elevate the battery business into what he calls a vital “core industry for the nation” while also making it a flagship sector for LG Group. His itinerary also included a stop at LG Electronics’ production site in Cibitung, where he reviewed manufacturing processes for TVs and monitors meant for both local and international markets.
Koo took a close look at the automated production lines and engaged with teams on global research and development strategies — all in line with his vision for the company’s growth. He wrapped up his time in Jakarta with a visit to the sales office where he analyzed market performance trends across Southeast Asia.
“While it’s important to respond to today’s intensifying competition, we must also prepare for what will keep us alive five years from now,” Koo noted, stressing the importance of focusing on strategic, selective investments that would provide a competitive edge in the future. A quick visit to a local retailer, Electric City, gave him insights into LG’s product standings and the competitive landscape, particularly in relation to Chinese offerings.
Indonesia is increasingly important for LG. With its massive population of approximately 280 million, the country leads in nickel production, a vital component for EV batteries, signifying its strategic significance for both sourcing and potential consumer markets.
Since LG Electronics set foot in Indonesia in 1990, followed by LG Innotek and LG Energy Solution, the company has established 10 entities in the country, cementing its presence with production sites and a commitment to growth in a region deemed high potential by the company’s leadership. An LG official summed it up stating, “Chairman Koo’s visit to Indonesia right after his trip to India reflects a strong commitment to finding growth opportunities not only in consumption and production, but also in R&D in high-potential markets.”
Koo Kwang-mo’s recent trip to Indonesia highlighted LG’s strategic focus on electric vehicle battery development as a critical component of growth. His visits to production facilities and engagement with local teams underscored the company’s commitment to enhancing its competitive edge, particularly in the face of global uncertainties. By positioning itself in a key market with vast resources and consumer potential, LG aims to solidify its status as a leader in the EV sector and beyond.
Original Source: koreajoongangdaily.joins.com
