LG Energy Solution flags Q1 operating loss on weak EV demand
Published on April 7, 2026.
South Korean battery manufacturer, LG Energy Solution (LES), has warned of a first-quarter operating loss of 208 billion ($138.16 million) due to weaker demand from electric vehicles (EVs) makers. This is compared to an LSEG SmartEstimate forecast of a 160 billion won loss. The company, which supplies Tesla (TSLA.O), General Motors (GM.N) and Hyundai Motor (005380.KS), has been dealing with weaker EV battery demand, with one of its major customers GM delaying a Detroit EV plant until April. To offset this, LGES is focusing on growing demand for energy storage systems (ESS), driven by rising electricity needs for AI data centres.
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