Tesla battery supplier LG Energy, South Korean peers take hit from material costs – Nikkei Asia
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Investments in higher capacity also weigh on sector’s earnings
SEOUL — Higher material prices have taken some of the spark out of earnings at South Korea’s top makers of electric vehicle batteries.
Tesla supplier LG Energy Solution, the second-largest battery supplier in the world, saw operating profit plunge 73% on the year to 196 billion won ($149 million) during the three months ended June. Quarterly revenue dipped 1% to 5.07 trillion won.
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via Inferse.com https://www.inferse.com
August 5, 2022 at 09:48AM