💨 Abstract

South Korean battery manufacturer LG Energy Solution reported a Q4 loss of 226 billion won ($158 million) due to slowing demand for electric vehicles. The company, supplying batteries to Tesla, General Motors, and Hyundai Motor, also warned of challenges from expanding Chinese competitors. Revenue for the quarter dropped 19% to 6.45 trillion won. Shares slightly increased post-results.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖