In 2023, LG Energy Solution became the first to exceed an annual research and development (R&D) budget of 1 trillion won, investing a record 1.3277 trillion won in R&D last year.
The company stated, "We will continue to secure overwhelming technological competitiveness to lead the future battery market through generous investments and ongoing technological innovation."
LG Energy Solution holds patents for commercialized technologies in material, cell, and pack manufacturing processes that have already been validated in the market. It is also building a patent portfolio covering key material technologies, including high-voltage electrolytes, high-capacity high-nickel cathodes, mid-nickel NCM (NCM523, 622), and silicon anodes.
The lithium manganese rich (LMR) technology is a notable area of next-generation patents. LG Energy Solution proactively established a patent base for LMR cathodes and silicon anode combination technologies before the industry began to focus on these technologies.
The company also possesses patents for dry electrode technology, which enhances production efficiency and environmental friendliness by using solid powders instead of organic solvents. LG Energy Solution has secured about 450 related patents, strengthening its competitiveness in next-generation production processes.
Recently, LG Energy Solution has won several patent lawsuits abroad and has stated its commitment to respond firmly to patent infringements. The company aims to foster a fair industrial ecosystem by expanding patent openness and technological exchanges based on mutual respect for technological value and reasonable licensing.
Lee Han-seon, executive director of LG Energy Solution's patent group, remarked, "The 100,000 patents are not just a number but the result of continuous R&D and challenges. We will continue to accelerate future growth based on core technologies and premium patents, creating a virtuous cycle where rightful rewards for technological innovation lead to new innovations."
Additionally, Tulip Innovation, which represents patent licensing for LG Energy Solution and Panasonic, announced on June 11 that it had signed a patent licensing agreement with China's Xinwangda. LG Energy Solution described this agreement as a confirmation of the principle that companies dedicated to technological innovation should receive fair compensation, stating, "We will take the lead in creating a healthy battery industry ecosystem that allows for fair competition."
* This article has been translated by AI.
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