LG Group Chairman Koo Kwang-mo reaffirmed the South Korean conglomerate’s long-term commitment to its electric vehicle (EV) battery business during a visit to Indonesia, even as Chinese competitors continue to strengthen their lead in the global market.
Koo visited HLI Green Power, a 50:50 joint venture between LG Energy Solution and Hyundai Motor Group, located in Karawang, West Java. The plant, Indonesia’s first EV battery manufacturing facility, began mass production in April 2024 and has an annual output capacity of 10 gigawatt-hours—sufficient to power around 150,000 electric vehicles. The factory achieved a 96% yield rate within four months of starting operations.
The visit comes as Chinese battery giants Contemporary Amperex Technology Co. Ltd. (CATL) and BYD retained their positions as the world’s two largest EV battery makers in the first four months of 2025, according to South Korea’s SNE Research. CATL led with 117.6 GWh installed, accounting for 38.1% of global battery use, while BYD followed with 53.4 GWh, securing 17.3% of the market. LG Energy Solution ranked third with 31.4 GWh—up 16.3% from the year before—but its market share dropped to 10.2% from 12.3% a year earlier.
“Although the EV chasm is lasting longer than expected and the competition (with Chinese battery makers) is heating up, (Koo’s visit) shows his determination to thoroughly prepare for (post-EV-chasm) times even at a moment like this,” said an LG official.
During his inspection of the Karawang facility, Koo encouraged employees to enhance competitiveness and innovation, writing on a battery cell that he hoped the site would become “the heart of future mobility.” His remarks echo those made in a March shareholder meeting, where he emphasized the battery industry as a core growth area for LG and a strategic sector for South Korea.
Koo also toured LG Electronics’ production and R&D facilities in Cibitung, West Java, where the company manufactures TVs and monitors for Asia, the Middle East, and Africa. He visited a local electronics retail store to review sales data, gather customer feedback, and examine strategies of Chinese rivals in the region’s consumer electronics market.
“While it is important to respond to competition, which is getting fiercer right now, we need to come up with strategies for our survival five years from now and identify the decisions we should make and where we should focus to secure our distinctive competitiveness,” Koo told LG Electronics staff during his stop in Jakarta.