LG Chem plans to increase battery sales fivefold by 2024.

The sales of electric vehicle batteries will become the largest part of LG's chemical business, accounting for about 50%, with sales of 26.7 billion US dollars.

LG Chem announced its new plan for the next five years up to 2024, and it is estimated that the total sales will increase from 28.2 trillion won (US$ 24 billion) to 59.5 trillion won (over US$ 50 billion).

At present, lithium-ion batteries used in plug-in vehicles account for about 22% of LG Chem's total revenue-6.5 trillion won ($5.5 billion).

LG Chem plans to increase battery sales fivefold to 365,438+0.6 trillion won (US$ 26.7 billion) in 2024, which will be about half of the total sales!

LG Chem also said that the battery business unit "will continue to maintain its overwhelming technical advantage in the field of third-generation electric vehicles (more than 500 kilometers) and maintain its leading position in the automotive battery business".

According to the price per kWh, the total battery sales in 2024 may be:

The price of battery per kWh is $65,438+050: $65,438 +078 kWh.

The price of battery per kWh is $65,438+025: 265,438 +04 kWh.

The price of this battery is $65,438+000 per kWh: 267 GWh will be sold.

With the price change, LG will achieve the target battery sales between 180-300GWh.