LG Energy Solution has strategically recruited approximately 200 former Jeve Company（捷威动力） employees, aiming to strengthen its lithium iron phosphate (LFP) battery capabilities. This move comes as the company seeks to address growing competitive pressures in the global electric vehicle battery market.

Talent Acquisition Strategy

The recruited team, comprising around 200 professionals across research, production, and sales functions, will be onboarded to LG's Nanjing factory in three phases. The first batch of approximately 20 employees, primarily researchers, joined in March 2024.

source：LG Energy Solution

Market Context and Competitive Landscape

Historically, LG Energy Solution has been renowned for its nickel-rich soft pack battery technology, serving prestigious clients like Tesla, General Motors, and Renault. However, the company has been experiencing market share erosion, with its global power battery market share declining from approximately 20% in 2021 to 10.8% in 2024.

This decline is primarily attributed to the rapid advancement of LFP battery technologies by Chinese manufacturers like CATL and BYD, who have made significant strides in energy density, charging performance, and cost efficiency.

Strategic Rationale Behind Talent Acquisition

Jeve Company, established in 2009 and previously employing over 1,000 staff, brings extensive expertise in square-format LFP battery design, process optimization, and cost control. Despite facing financial challenges and operational suspension in 2023, the company maintained strong relationships with domestic automotive manufacturers like Chery and Great Wall, and had begun exploring energy storage solutions.

Initially, LG Energy Solution contemplated a patent transfer collaboration, but negotiations stalled, leading to the current talent acquisition approach.

source：JEVE 

Broader Strategic Initiatives

Since 2022, LG Energy Solution has been comprehensively positioning itself in the LFP battery ecosystem:

• Partnered with Huayou Cobalt to establish an LFP cathode material factory in Morocco, targeting 50,000 tons annual production for the North American market, expected to commence operations in 2026.
• Secured its first significant LFP battery contract with Renault's Ampere division, committing to supply approximately 39 GWh of batteries (sufficient for 590,000 electric vehicles) from its Polish factory between 2025 and 2030.
• Expanded collaboration with LongPan Technology, increasing long-term LFP cathode material supply from 160,000 to 260,000 tons (2024-2028 period).
• Acquired a 20% stake in Indonesia Lithium Sources, further diversifying its upstream supply chain.

Localization and Future Outlook

By establishing its China headquarters in Nanjing's Economic and Technological Development Zone and recruiting top-tier talent, LG Energy Solution is signaling a profound commitment to its localization strategy and technological innovation.

While the talent acquisition represents a calculated move to accelerate technological iteration, the ultimate market impact remains to be seen. The success of this strategy will hinge on effectively translating specialized expertise into competitive technological advantages.