LG Energy Solution (LGES), an electric vehicle (EV) battery supplier for General Motors and Tesla, estimated on Monday a 138% rise in its quarterly operating profit.
However, excluding tax credits under the U.S. Inflation Reduction Act, LG Energy Solution said it saw an operating loss of 83 billion won ($56.52 million) in the first quarter, as the industry is hit by cooling demand for electric vehicles.
The South Korean company said its operating profit was likely 374.7 billion won for the January-to-March period, compared with a 157.3 billion won profit a year earlier and a 29 billion won average forecast by LSEG Smart Estimate, weighted toward analysts who are more consistently accurate.
Source : Reuters
Frontier innovation may start at home, but new technologies tend to spread across borders through…
Do banks fail because of runs or because they become insolvent? Answering this question is…
The US college wage premium nearly doubled between 1980 and 2010, rising fastest in dense…
Europe’s rising external surplus now rivals China’s, reflecting weak investment and growing surpluses, pointing to…
The 2025 Sevilla Commitment renews the push for domestic revenue mobilisation, with the EU needing…
This essay analyses the causes of, and remedies for, external imbalances, and what countries should…