SEOUL, South Korea, Dec. 14, 2021 /PRNewswire/ -- LG Energy Solution (LGES), a leading global battery maker announced Tuesday that it has signed a Memorandum of Understanding (MoU) with a German-based technology company Siemens Aktiengesellschaft (Siemens AG) for joint collaboration in the field of battery manufacturing, particularly the digitization of production process.
Under the terms of the agreement, which was signed by Young Soo Kwon, CEO of LG Energy Solution and Cedrik Neike, Member of the Managing Board of Siemens AG and CEO Digital Industries at LGES's headquarters in Seoul Monday, the two companies plan to take steps to promote the process of battery manufacturing intelligence at LGES production facilities worldwide.
Through this strategic collaboration, LGES will be able to implement smart battery manufacturing processes at its factories with the advanced techniques. The partnerships' first line of collaboration will be realized at Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, located in Tennessee, which is expected to begin production in 2023.
Furthermore, the collaboration will allow LGES to cut back on Carbon footprint in its entire supply chain management, as it aims to boost sustainability in its business operations. LGES previously announced its ESG visions and business strategies to embrace sustainable business practices.
As a leading supplier in the field of automation, industrial software, Siemens AG offers comprehensive digital enterprise portfolio and domain knowledge in the battery industry for LGES to accelerate efficiencies for digital transformation strategy.
In addition, Siemens AG will contribute to the development of the rapid growing battery industry by solidifying its position as a technology partner for the advancement and efficiency of battery manufacturing technology.
Two companies will also collaborate on building digital twin roadmap to ensure stable operations at facilities to offer first-rate quality products at the right time. Together, the companies will also develop training programs within Institute of Battery Technology (IBT) for academic students set to work for LGES. LG Energy Solution previously announced it will build IBT in Korea to educate and build expertise in battery technologies.
"We believe the partnership with the world-renown Siemens AG will efficiently promote LG Energy Solution's digitized manufacturing processes, ultimately enabling LGES to provide the finest services to our clients," said Young Soo Kwon, CEO of LG Energy Solution. "The process of manufacturing intelligence in producing batteries is becoming a critical factor, especially as LGES continues to advance the quality of its products while expanding production base worldwide."
"The future of carbon-neutral mobility requires high-performing batteries. They are at the heart of the electric vehicle market. Siemens and LG ES will work on a big leap forward in battery manufacturing. We are proud that technology from Siemens enables this momentous transformation", said Cedrik Neike, Member of the Managing Board of Siemens AG and CEO Digital Industries. "With this cooperation, we underscore Siemens' positioning as a focused technology company. Joining forces with the world's leading battery manufacturer allows us to showcase our deep domain know-how in the battery market."
About LG Energy Solution
LG Energy Solution is a global leader delivering advanced lithium-ion batteries for Electric Vehicles (EV), Mobility & IT applications, and Energy Storage Systems (ESS). With 30 years of experience in advanced battery technology, it continues to grow rapidly towards the realization of sustainable life. With its robust global network that spans the US, Europe, Asia, and Australia, LG Energy Solution is more committed than ever to developing innovative technologies that will bring the future energy a step closer. Under its ESG vision "We CHARGE toward a better future," LG Energy Solution is doing its utmost to prioritize environment, fulfil social responsibilities and shape sustainable future. For more information, please visit https://www.lgensol.com.
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power. In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
Siemens Digital Industries (DI) is a leading innovator in automation and digitalization. In close cooperation with its partners and customers, DI is the driving force for the digital transformation in the process and manufacturing industries. With its Digital Enterprise portfolio, Siemens provides companies of all sizes with all the necessary products, along with consistent solutions and services for the integration and digitalization of the entire value chain. Optimized for the specific requirements of individual industries, this unique portfolio enables customers to enhance their productivity and flexibility. DI continuously extends its portfolio to include innovations and the integration of future-oriented technologies. Siemens Digital Industries, with its headquarters in Nuremberg, has a workforce of around 76,000 employees worldwide.
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