Freight-trucking company Yellow trucks are parked at subsidiary YRC in Pomona, California, USA. Photo by ETIENNE LAURENT / EPA
Aug. 10 (Asia Today) -- Lotte Global Logistics said Monday it will significantly expand inland transportation of battery energy storage systems made by LG Energy Solution in the United States as the South Korean logistics company moves deeper into the North American specialty cargo market.
The company has been transporting LG Energy Solution's U.S.-made battery energy storage systems, or BESS, from production facilities to customers since the first half of the year. It plans to triple transportation volume in the second half compared with the first six months.
The expansion comes as logistics companies seek new growth opportunities amid slowing electric vehicle demand. Lotte Global Logistics is looking to the rapidly growing energy storage sector as a new source of business.
BESS installations store electricity in batteries and release it when needed. They are considered critical infrastructure for balancing intermittent renewable energy sources such as solar and wind power and improving grid stability.
