Visitors enter LG Energy Solution's booth during InterBattery 2024 at COEX in Seoul, March 6. Courtesy of LG Energy Solution

LG Energy Solution showcased its Cell To Pack (CTP) battery pouch and mid-nickel (Mid-Ni)-based small pouch cell for the first time at the exhibition, which ran from March 6 to 8.

The battery maker said that the CTP battery is gaining mounting attention in the global electric vehicle (EV) market with its lighter weight and cheaper production cost. Indeed, the CTP battery is still highly rigid and stable against external shocks and heat conductivity.

Featuring high-voltage capacity, LG Energy Solution's Mid-Ni pouch battery won this year's InterBattery Awards in the best innovation category. It can also be used in various IT devices, including laptops and smartphones, since its production cost is lower than lithium-cobalt-oxide battery products.

An Isuzu Elf Mio electric truck equipped with a Mid-Ni battery was also on display at the Korean battery firm's exhibition pavilion.

The company also showcased its energy storage systems, including the JF1 DC-Link and enblock S during the event.

LG Energy Solution CEO Kim Dong-myung expressed his confidence in the company's future competitiveness despite the recent slowdown in the global EV market.

"This year will be another cornerstone for LG Energy Solution with strengthened leadership in technology and differentiated customer service," Kim said during the company's showcase event.

"I will do my part by establishing the backbone for sustainability and more competitive products."

In a bid to strengthen its competitiveness in battery technology, LG Energy Solution said it will step up investments in its premium high-nickel lineup while accelerating R&D for more advanced Mid-Ni and lithium iron phosphate batteries.

The firm also promised to lower production costs by strengthening its supply chain. (advertorial)