LG Energy Solution details new storage orders, with North American capacity targets still ahead

The Reid Gardner battery energy storage project near Moapa, Nevada, photographed on March 24, 2025. Archival photo. The photograph does not depict an identified LG project. Photo: Sig. Chiocciola · CC0 1.0.

New storage projects and customer demand

LG Energy Solution's full third-quarter operating update, released on November 3, shifts attention from the profit figure to the composition of its business. The company said increased energy storage system (ESS) shipments contributed to sequential revenue growth. Improved European plant utilisation, higher cylindrical-battery volumes and a reduced fixed-cost burden as North American ESS capacity gradually stabilised also supported operating profit. It disclosed its first direct-supply behind-the-meter battery energy storage system project for a big technology customer and said its solution had qualified it as an NVIDIA DSX Ready BESS partner. The announcement did not identify the customer, the project's value or actual delivery volume.¹

Behind-the-meter storage is installed on the customer's side of a commercial or industrial electricity meter to serve that customer's power needs. Growing data-centre electricity use may increase demand for such systems, but a single project does not establish that orders have materialised across the industry. The stated partner qualification should also not be presented as independent certification of performance in every real-world setting. Based on the information disclosed, LG is connecting its electric-vehicle battery manufacturing capabilities with demand from storage customers. That growth path still depends on production-line conversion, customer acceptance and sustained shipments.¹

The Stanton battery energy storage facility in California, photographed on October 8, 2024. Archival photo. The photograph does not depict an identified LG project. Photo: Sig. Chiocciola · CC0 1.0.

Production-line progress and the 2027 capacity target

On capacity, the company said a new production line in Arizona had been completed and battery-pack capacity in Ohio was being expanded in stages. It plans to convert more North American electric-vehicle pouch-battery lines to storage production and add prismatic storage-battery lines, aiming for more than 70 GWh of North American ESS battery capacity by the end of 2027. This is a future plan, not a quantity already in production, sold or installed. Converting existing lines can reduce some of the expenditure associated with a new factory, but equipment adaptation, material supplies, customer qualification and changing demand can still affect delivery of the target.¹

The operating update follows previously disclosed quarterly earnings. On October 8, LG announced preliminary third-quarter revenue of KRW 9.6434 trillion, operating profit of KRW 756 billion and the effect of North American production tax credits; Globalbole covered those results on October 9. The approximately KRW 9.6 trillion in revenue, KRW 756 billion in operating profit and KRW 416.9 billion in production incentives appearing in the November 3 release are therefore not the core of this update. The new information concerns storage orders, production-line progress and future capacity allocation, with the quarterly profit figures providing background.¹²

Source notes

1. 2026-11-03 · LG Energy Solution Releases 2026 Third-Quarter Financial Results · LG Energy Solution, published by LG. ↩ ↩² ↩³ ↩⁴

2. 2026-10-08 · 2026년 3분기 잠정실적 발표 (Preliminary results for the third quarter of 2026) · LG Energy Solution, published by LG. These were preliminary figures at the time, and the announcement noted that they could change. ↩