World’s Largest EV Battery Supplier Expects Revenue to Double by 2025

LG Chem Ltd (OTC:LGCLF) expects its business to double in size by 2025, driven by ever-increasing penetration of the electric vehicle industry, CEO Hak Cheol Shin said in an interview with Bloomberg Thursday.

What Happened

The South Korean company’s revenue is expected to reach $11 billion this year, and could shoot up to $25.3 billion by 2025, according to Shin.

“The global electric vehicle industry itself is growing fast, but the penetration rate is about 3% now,” the CEO said. “The rate will be about 10% in 2025.”

Shin added that the company is in a position to deliver all orders from customers despite the COVID-19 pandemic.

Why It Matters

LG Chem emerged as the largest battery supplier in the first half of 2020 with its sales growth soaring 83% to 10.5 gigawatt-hours, according to SNE Research.


Attention Breakthrough Investors…

You simply have to see this!

A new type of battery is pushing everything we thought we knew about energy storage to the limits.

According to automotive insiders, consumers will soon be able to go 1,000 miles on a single charge.

In short, this tech is about to change EVERYTHING.

When you see this live-action demo, you’ll understand why.


The battery firm benefitted from the growing popularity of Tesla Inc.'s (TSLA) Model 3 vehicles in China as well as firm European demand for EVs.

European governments are using virus recovery funds to boost EV sales, which is helping the Korean firm, along with increase in sales of new models from the continent's automakers like Volkswagen AG (VLKAF), SNE Research noted, as per Bloomberg.

Yuanta Securities Korea Co. analyst Hwang Kyu-Won pointed out that that the scale of orders from Tesla will be an important factor for LG Chem's growth going forward, but that the battery maker has “diversified customers” and can benefit from growth of other EV companies as well.

LG Chem is helping Tesla grow its battery production capacity in South Korea.

Read more from Shivdeep Dhaliwal at Benzinga.com

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Write This Stock Ticker Down Right Now

Enter your email address to see the name and ticker on the next page.


By submitting your email address, you give Breakthrough Investors permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

How to Collect "Amazon Royalty" Payouts Before the Deadline

Thanks to a little-known IRS loophole, regular Americans can collect up to $28,544 (or more) in payouts from what is called “Amazon’s secret royalty program”…
Enter your email address to access all the details.


By submitting your email address, you give Breakthrough Investors permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Project An-E

Breakthrough A.I. Just Predicted What the Stock Prices of Tesla, Nvidia, and Apple Will Be 30 Days from Now…
Enter your email address for immediate access.


By submitting your email address, you give Breakthrough Investors permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Elon Musk's "Project Omega"

It could soon mint new millionaires, while plunging millions of unprepared Americans into poverty. Get the stocks at the center of it all.
Enter your email address to receive the names and ticker symbols.


By submitting your email address, you give Breakthrough Investors permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works