LG Energy Solution Q2 operating profits jump on strong U.S. demand

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LG Energy Solution Q2 operating profits jump on strong U.S. demand

Published: 07 Jul. 2025, 12:42 Updated: 07 Jul. 2025, 17:42

LG Energy Solution's plant in Michigan [LG ENERGY SOLUTION]

LG Energy Solution, Korea's leading battery maker, on Monday estimated that its first-quarter operating profits more than doubled from a year earlier, driven by strong sales of battery products in the United States.

In the three months ending on June, operating profits likely surged to 492.2 billion won ($361.2 million) from 195.3 billion won in the same period of last year, the company said in a regulatory filing.

"Increased shipments of battery products for our customers, including Hyundai Motor, Kia and General Motors, in the United States boosted quarterly earnings," a company spokesperson said.

Sales, however, fell 9.7 percent to 5.56 trillion won from 6.16 trillion won amid an overall slowdown in EV sales.

The company plans to announce its final earnings results for the June quarter later this month.

Yonhap