LG Chem is working to spin off and publicly list its battery business to finance growing operations. The company’s board is reportedly set to hold a meeting on Thursday to discuss the plan, which may include an IPO. LG Chem did not respond to a request for comment.
- LG Chem has been on-boarding a slew of high-profile automakers as it expands its EV battery business, listing Tesla, GM, and Volkswagen as clients.
- By going public, LG Chem’s battery business may draw the same attention from investors other EV companies and material makers have gained in recent months, including Nikola and QuantumScape.
- The public listing would give the company additional capital to expand its EV battery production operations and source materials for future battery production.
- Along with its energy solutions division, which builds EV batteries, LG Chem also specializes in life sciences and petrochemicals.