Doosan Bobcat's T7X all-electric compact track loader / Courtesy of Doosan Bobcat
Korean battery makers pursue portfolio diversification amid EV glut
By Park Jae-hyuk
LG Energy Solution (LGES) and Doosan Bobcat recently signed a memorandum of understanding to jointly develop battery pack solutions for compact construction equipment.
Their partnership is the battery maker's latest attempt to diversify its product portfolio, in response to the prolonged industry slowdown in the aftermath of the declining global demand for electric vehicles (EVs).
LGES said Wednesday that its cylindrical batteries will be used for the electrification of Doosan Bobcat's flagship machines.
The two companies will also jointly develop standardized battery pack solutions that can be applied to skid-steer loaders and excavators, while working together to succeed in major markets, such as North America.
Additionally, they agreed to actively explore new opportunities to extend this partnership to the electrification of other applications, including grounds maintenance equipment like tractors.
"We are pleased to develop battery packs for compact construction equipment on the back of excellent quality and stability of LGES' cells," Doosan Bobcat Executive Vice President Park Hyun-chul said.
LGES Senior Vice President Oh Yoo-seong promised that the company will remain deeply committed to leading the challenge of electrifying various industries.
Previously, LGES signed contracts to supply its batteries for SpaceX's Starship rockets and Bear Robotics' flagship robots. While reinforcing the energy storage system (ESS) business, the battery firm plans to focus more on developing products for urban air mobility, ships and robots to expand its presence in the non-EV market.
Samsung SDI, another major Korean EV battery maker, also signed a memorandum of understanding last month with Hyundai Motor Group to [co-develop batteries customized for robots](https://www.koreatimes.co.kr/www/tech/2025/03/129_392945.html). SK On is also trying to increase its share in the global ESS market, regarding the sector as the company's new growth engine.