💨 Abstract

LG Energy Solution, a South Korean battery firm, reported a quarterly loss for the first time in three years due to slowing electric vehicle demand growth and changes in environmental policies in major markets. The company plans to reduce capital expenditure by up to 30% this year and expects the EV market to recover after 2026, but faces challenges from the global expansion of Chinese rivals.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖