Currently viewing Global edition

World battery demand to rise 33% to 890GWh in 2023: LGES

Leading lithium-ion batteries manufacturer LG Energy Solutions forecasts global battery market demand will rise by 33% year-on-year to 890GWh - and expects its own capacity to reach 300GWh by the end of the year.

World battery demand to rise 33% to 890GWh in 2023: LGES World battery demand to rise 33% to 890GWh in 2023: LGES World battery demand to rise 33% to 890GWh in 2023: LGES World battery demand to rise 33% to 890GWh in 2023: LGES World battery demand to rise 33% to 890GWh in 2023: LGES

Along with EVs, LGES makes batteries for mobility, IT, and energy storage systems.

North America is the region forecast to lead the global expansion, with growth in the "mid-to-high" range of 60%, the South Korea-based company said.