On October 28th, LG Energy Solution officially announced that the company will begin energy storage battery production in the United States in 2025 and consider converting its power battery production line to energy storage batteries based on European market demand in order to maximize the benefits of local manufacturing policies.
Moreover, LG New Energy announced its third quarter performance report on the same day, with overall revenue of 6.8778 trillion Korean won (approximately Yuan 35.421 billion), a month-on-month increase of 11.6% and a year-on-year decrease of 16.4%. The operating profit was 448.3 billion Korean won (approximately Yuan 2.309 billion yuan), with an increase of 129.5% MoM and 38.7% YoY respectively.
Edited by Cassie Li, lixiangying@mysteel.com
