financetom
Business
financetom
/
Business
/
Battery firm LG Energy Solution Q2 profit plunges on weak EV demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Battery firm LG Energy Solution Q2 profit plunges on weak EV demand
Jul 24, 2024 6:20 PM

SEOUL, July 25 (Reuters) - South Korean battery firm LG

Energy Solution (LGES) on Thursday posted on a 58%

drop in quarterly profit, hit by weakening demand for

battery-powered electric vehicles (EVs).

The company, which supplies Tesla, General Motors ( GM )

, Hyundai Motor ( HYMTF ) and other automakers, reported

an operating profit of 195 billion won ($141 million) for the

April-June period, in line with an earlier forecast.

The result compares with a 461 billion won profit a year

earlier.

($1 = 1,383.9100 won)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved