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LGES posted a 40% rise in third-quarter profit to 731 billion won ($543.46 million) in line with the company's earlier guidance, helped by increased output from its Ohio joint venture factory with GM.
The supplier of automakers including Tesla, General Motors and Volkswagen reported operating profit of 157 billion won ($114 million) for January-March on revenue that fell 30% to 6.1 trillion won.
LG Energy Solution Ltd. (LGES; Korean: 주식회사 엘지에너지솔루션) is a battery company headquartered in Seoul, South Korea. LGES is one of the largest battery makers in the world alongside CATL , Panasonic , SK Innovation , and Samsung SDI .
South Korean battery maker LG Energy Solution (LGES) said on Thursday its revenue would plunge more than 20% this year and that it would ease capacity expansion due to a sharper-than-expected ...
When completed, this transaction will also help LG Energy Solution meet demand by leveraging capacity that's nearly ready to come online and it will make GM even more efficient."
Ultium Cells, a joint venture of LG Energy Solution and GM, will spend $2.6 billion to build its third battery cell plant in the United States in Lansing.
POSCO Future M produces cathode active materials and anodes for EV batteries. [11] It is showing rapid growth by receiving a total of approximately 100 trillion won in cathode material orders from major domestic battery companies (lg energy solutions, Samsung SDI, etc.) in 2023.
Vulcan Energy Resources was listed on the Frankfurt Stock Exchange in February 2022 with a first price of €5.65. [29] In January 2022, e-mobility battery manufacturer LG Energy Solutions and Vulcan signed a binding offtake agreement for lithium hydroxide with a purchase volume between 41,000 and 50,000 tonnes. [30]