Lotte Energy Materials "Concrete Strategy for Mass Production of Next-Generation Battery Materials"

Held Two-Day Strategic Meeting for First Half of 2024
Shared This Year's Goals and Mid-to-Long-Term Strategies by Division

Lotte Energy Materials held its '2024 First Half Strategic Meeting' over two days starting on the 15th.

The strategic meeting, held at Lotte Resort in Buyeo, Chungnam, was attended by about 50 key executives and employees, including Kim Yeonseop, CEO of Lotte Materials, domestic business sites Iksan Plants 1 and 2, Uiwang Research Center, and heads of overseas subsidiaries in Spain and Malaysia, Lotte Energy Materials announced on the 17th.

On the first day’s session, starting with a seminar on the electric vehicle market by a Mirae Asset Securities researcher, the planning division introduced last year’s major management achievements and revealed this year’s management plans. Despite the slowdown in the industry, the planning division plans to continuously promote innovation activities to maintain a profit trend and strengthen IR activities.

Kim Yeonseop, CEO of Lotte Energy Materials, is explaining last year's business performance and this year's key plans to major executives at the '2024 Lotte Energy Materials Strategy Meeting' held at Lotte Resort Buyeo on the 15th and 16th. Photo by Lotte Energy Materials

Following this, executives from sales, production, development, quality divisions, and the Malaysia subsidiary agreed to strengthen organizational reform and innovation activities to become a sustainable growth company. The sales division set a plan to expand external activities such as roadshows, tech days, and exhibition participation in collaboration with the marketing team to increase contact points with customers this year.

On the second day’s session, presentations from the research and development (R&D) and new business divisions followed. The R&D division focused on research of next-generation battery materials currently under development, such as sulfide-based solid electrolytes, silicon anode active materials, and LFP cathode active materials, and presented more concrete commercialization strategies from pilot lines to mass production processes.

The new business division leading overseas operations explained the progress and local conditions regarding entry into the Spanish and North American markets and announced strategies to build a highly competitive high-end copper foil factory. The strategic meeting concluded with an introduction to recent equipment trends by a specialized equipment company and a seminar on overseas business optimization by the strategy consulting firm BCG.

CEO Kim said, "Despite the difficult market conditions last year, we expect to record the only profit in the industry," adding, "This is a valuable result achieved by mobilizing the full capabilities of all executives and employees."

He continued, "Although the market remains uncertain this year, if we realize the strategies carefully considered by each division, we will be able to grow into a solid and sustainable growth company."