Business & Finance
LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand
Key Points
LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand SEOUL, July 7 : South Korean battery maker LG Energy Solution said on Tuesday it expects April-June operating profit to fall 77 per cent to 113 billion won ($73.91 million), as sluggish electric vehicle (EV) demand continued to weigh on battery sales. That compared with an LSEG SmartEstimate forecast of a 249 billion won profit, which is weighted toward analysts who are more consistently accurate. ($1 =...
LG Energy Solution flags 77% fall in Q2 operating profit on continued weak EV demand
SEOUL, July 7 : South Korean battery maker LG Energy Solution said on Tuesday it expects April-June operating profit to fall 77 per cent to 113 billion won ($73.91 million), as sluggish electric vehicle (EV) demand continued to weigh on battery sales.
That compared with an LSEG SmartEstimate forecast of a 249 billion won profit, which is weighted toward analysts who are more consistently accurate.
($1 = 1,528.9000 won)
Source: Reuters