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South Korean battery maker LG Energy Solution will spend an estimated 400 billion won to voluntarily replace lithium-ion batteries used in Chinese-made energy storage systems (ESS) over potential fire risks.
LG Energy said the ESS batteries subject to replacement were produced in the Nanjing factory in China between April 2017 and September 2018.
According to the company, it concluded that the batteries pose potential fire risks when combined with the harsh external environment.
LG Energy said it will consult with local and overseas clients in replacing the batteries and taking necessary actions.
An ESS has several lithium-ion batteries that store electricity generated by renewable energy, such as wind and solar power.
