UPDATED. 2024-11-12 07:26 (화)
LG Energy to reduce spending in 2024 amid low demand for EV batteries
LG Energy to reduce spending in 2024 amid low demand for EV batteries
  • Lee Min-Jo
  • 승인 2024.04.25 18:21
  • 댓글 0
이 기사를 공유합니다

Q2 profit to improve over Q1
Image: LG Energy Solution
Image: LG Energy Solution

LG Energy Solution is planning to reduce its investment this year due to the unfavorable macroeconomic situation.

The South Korean battery maker said on Thursday that it recorded 6.12 trillion won in revenue and 153.7 billion won in operating profit in the first quarter this year, an increase of 30% and a drop of 75%, respectively, from last year.

A tax credit of 188.9 billion won from the Inflation Reduction Act of the US, without it it would have recorded a 31.6 billion won operating loss.

However, LG Energy Solution said its second-quarter earnings is expected to improve over the first quarter from increased demand for batteries from its customers in the US,

However, despite this, for the entire year, there is little indication that overall demand for batteries used in electric vehicles to increase this year, the company said.

That is why LG Energy Solution will reduce its overall CAPEX this year and prioritize some investment plans over others, the company said. Last year the company spent 10.9 trillion won in CAPEX.


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • 515, Nonhyeon-ro, Gangnam-gu, Seoul, Republic of Korea 4F, Ahsung Bldg.
  • 대표전화 : 82-2-2658-4707
  • 팩스 : 82-2-2659-4707
  • 청소년보호책임자 : Stan LEE
  • 법인명 : The Elec Inc.
  • 제호 : THE ELEC, Korea Electronics Industry Media
  • 등록번호 : 서울, 아05435
  • 등록일 : 2018-10-15
  • 발행일 : 2018-10-15
  • 발행인 : JY HAN
  • 편집인 : JY HAN
  • THE ELEC, Korea Electronics Industry Media Prohibiting unauthorized duplication,publishing,modification and distribution the material on this Site for any purpose.
  • Copyright © 2024 THE ELEC, Korea Electronics Industry Media. All rights reserved. mail to powerusr@thelec.kr
ND소프트