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LG Energy Solution Reports Unexpected Q4 Loss Amid Sluggish Electric Vehicle Demand, Sales Drop 19% YoY
2025-01-09
South Korean battery giant LG Energy Solution has unexpectedly fallen into the red, suffering from a sales decline spurred by waning demand for electric vehicles. According to the company's preliminary financial results released on Thursday, it recorded an operating loss of KRW 225.5 billion (approximately USD 154 million) for the quarter ending December 31, 202X. This figure falls markedly short of the KRW 16.4 billion operating profit anticipated by analysts. Furthermore, sales totaled KRW 6.45 trillion, marking a year-on-year decrease of 19%.
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