LG Energy Solution to take robust action against patent free riders

Industry

Published: 24 Apr. 2024, 15:56 Updated: 24 Apr. 2024, 17:30

LG Energy Solution to take robust action against patent free riders

LG Energy Solution researchers pose with the company's cylindrical batteries [LG ENERGY SOLUTION]

LG Energy Solution, Korea's largest battery maker, is taking aim at "patent free riders."

The company said Wednesday that it has identified 580 cases of infringements on its patents related to battery materials, manufacturing, battery pack and battery management systems by competing manufacturers.

LG Energy Solution CEO David Kim [LG ENERGY SOLUTION]

It is "evaluating all options in this regard, including patent infringement lawsuits against the perpetrators," giving an example of "batteries supplied to a global automaker by an undisclosed battery manufacturer that turned out to be produced by infringing on over 30 patents owned by LG Energy Solution."

With more than 58,000 patent applications filed worldwide and more than 30,000 issued, the Korean battery maker said it would be "nonsensical for a latecomer to develop batteries without licensing our foundational patent rights."

LG Energy has begun a review of its portfolio and has identified over 1,000 patents as "highly strategic" ones that have likely been infringed upon by rivals. They are related to increased adhesiveness of the ceramic coated separator, electrolytes for high voltage and high efficiency batteries as well as silicon anode technologies.

"Respecting intellectual property [IP] rights is essential for fostering fair competition in the global market. To ensure the advancement of the overall industry and the company, we will protect our intellectual property and take bold countermeasures on patent infringement,” said David Kim, CEO of LG Energy Solution. “By utilizing a fair return on our IP, we will actively pursue the development of core future technologies, providing differentiated values to our customers.”

LG Energy Solution is the world's second-largest battery maker with 24.4 percent of market share right after CATL at 28.5 percent as of January, according to SNE Research.

BY SARAH CHEA [chea.sarah@joongang.co.kr]