https://insideevs.com/news/358947/lg-chem-increase-battery-sales-fivefold-2024/Electric car battery sales will become the biggest part of LG Chem's business with a share of around 50% and revenues of $26.7 billion
LG Chem announced a new plan for the next five years by 2024, which envisions doubling the sales from around 28.2 trillion KRW ($24 billion) to 59.5 trillion KRW (over $50 billion).
The most interesting thing for us is that currently, lithium-ion batteries for plug-in cars account for around 22% for total LG Chem revenues - 6.5 trillion KRW ($5.5 billion).
The plan is to increase battery sales roughly five times to 31.6 trillion KRW ($26.7 billion) in 2024, which would translate to about half of the total revenues!
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