Secure a large order for energy storage batteries in the United States, LG New Energy's stock price surged over 16% at one point.

On Thursday, LG Energy Solution's stock price in South Korea soared more than 16% in intraday trading. Prior to this, its American subsidiary reached an agreement with DTE Energy (DTE.US) to supply battery cells for the latter's energy storage projects in Michigan. According to a press release from LG Energy Solution Vertech, these eight projects will provide a total of 1.5 gigawatts (6 gigawatt-hours) of battery storage capacity, allowing for the storage of electricity during times of excess and distribution to users as needed. The total value of the order is reported to be $1.6 billion. Jaehong Park, President of LG Energy Solution Vertech, stated: "As more and more domestic energy storage projects are connected to the grid in the United States, we are creating high-quality jobs in Michigan to support the overall energy security needs of the United States." In recent years, this South Korean battery company has been expanding its presence in the US energy storage system business. Currently, the company's energy storage system battery production network in North America consists of three independent factories and two joint venture factories. The company stated that they are "actively responding to the growing demand for 'Made in America' energy storage system batteries from customers." In a statement in April of this year, the company pointed out: "Leveraging this strong production network, the company will ensure that the annual production capacity of energy storage system batteries in the region exceeds 50 gigawatt-hours by the end of this year."