Electric Vehicles Using LG Batteries Surpass One Million Units

Hybrid Total Approximately 4.6 Million Units

[Image source=Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] An analysis has emerged that electric vehicles using LG Energy Solution batteries have surpassed 1 million units. When including plug-in hybrid vehicles, which are virtually classified as electric vehicles, it is understood that 1.6 million electric vehicles equipped with LG batteries are roaming worldwide.

According to a foreign media report on the 18th (local time), the number of pure electric vehicles (BEVs) using LG Energy Solution batteries was counted at 1.08 million units. Among these, 300,000 units are identified as Renault's Zoe (ZOE).

Including 550,000 plug-in hybrid vehicles (PHEVs) such as the Chevrolet Bolt, a total of 1.63 million vehicles are running on the streets powered by LG batteries.

Vehicle scale using LG Energy batteries

The foreign media also estimated that there are over 3 million hybrid (HEV) vehicles using LG batteries.

Combining electric vehicles and hybrid vehicles using LG batteries, the total reaches approximately 4.6 million units, the foreign media reported.

The foreign media noted that while LG Energy Solution's customers include all major automobile companies, the deal with Tesla was a decisive turning point for the expansion of LG's battery business.

To target the U.S. market, LG Energy has established 'Ultium Cells' together with General Motors (GM) and is constructing a battery production plant with an annual capacity of 1 million units.