👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
LG Energy Solution cuts spending as EV demand declines
South Korean battery maker, LG Energy Solution, plans to cut capital expenses due to weak demand for EVs.
The firm also reported a significant drop in third-quarter profits.
LG Energy Solution, a supplier to Tesla, General Motors, and Hyundai Motor, noted a 39% decline in profits.
The company anticipates the US presidential elections will affect the EV market.
They also plan to align their spending with anticipated slowdowns in EV growth for 2024.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.