Current LG Chem has three main business areas: • Petrochemicals • Advanced materials • Life sciences
Petrochemicals LG Chem is a supplier of petrochemicals ranging from basic distillates to specialty
polymers. For example, it is a large producer of common
plastics such as
acrylonitrile butadiene styrene (ABS),
styrene-acrylonitrile resin (SAN), and
polyvinyl chloride (PVC). It also produces raw materials and liquids, including
plasticizers, specialty additives,
alcohols,
polyolefins,
acrylic acid,
synthetic rubber, styrenics, performance polymers,
engineering plastics,
elastomers, conductive resins, and other chemicals.
Advanced materials LG Chem supplies display and optical films, polarizers,
printed circuit materials, and toners. It also supplies LCD polarizers, which are multi-layer sheets of film applied to the top and bottom surfaces of
TFT-LCD panels to transmit the light from the backlight unit through the panel, and
3D FPR (
film-type patterned retarder) film, which enables three-dimensional viewing.
Life sciences LG Chem acquired AVEO Pharmaceuticals, a U.S. bio firm focused on
renal cell carcinoma, for US$571 million in 2023.
Former Energy solutions '''' 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 mobile battery and 20 million automotive battery 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. The 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, and upcoming
plug-in electric vehicles from other carmakers. Its research and development arm, called LG Chem Power, is based in nearby
Troy, Michigan. LG Chem Power and LG Chem Michigan were originally one company called
Compact Power, Inc. Both the Chevrolet Volt and the Ford Focus Electric initially used cells manufactured in Korea by parent LG Chem and then later switched to cells produced in LG Chem Michigan's Holland plant once it opened. In September 2020, LG Chem unveiled its plan to publicly list its energy division under the name of
LG Energy Solution by December. LG Chem said on September 22, 2024 that it plans to supply cathode materials to Prime Planet Energy & Solutions Inc. (PPES), a Japanese battery joint venture established between
Toyota Motor Corp. and
Panasonic Corp. On October 27, 2024, LG Chem said Sunday it has opened its third overseas research and development center in Germany to develop environment-friendly, next-generation technologies. == Accidents and incidents ==