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Business
LG Energy Solution Posts Q3 Loss as EV Market Slowdown Cuts Battery Demand
✍️ Free Press Journal
🗓 04 Nov 2026, 08:48 AM
👁 3
LG Energy Solution reported a net loss for the third quarter, citing a sustained slowdown in the electric‑vehicle market that has pressured battery demand.
LG Energy Solution, one of the world’s largest lithium‑ion battery producers, announced a net loss for the third quarter of the fiscal year. The company attributed the decline to a prolonged slowdown in the global electric‑vehicle market, which has reduced demand for its batteries.
The company’s revenue fell compared to the same period last year, and its profit margins were squeezed as sales volumes dipped. LG Energy Solution said it is reviewing its production plans and exploring new customer segments to offset the impact.
Industry analysts note that the downturn in EV sales, driven by higher prices and supply chain constraints, has affected battery manufacturers worldwide. LG Energy Solution’s management remains optimistic about a rebound as the market stabilizes.
The company has announced measures to streamline operations and invest in technology upgrades to maintain competitiveness in a challenging environment.
The company’s revenue fell compared to the same period last year, and its profit margins were squeezed as sales volumes dipped. LG Energy Solution said it is reviewing its production plans and exploring new customer segments to offset the impact.
Industry analysts note that the downturn in EV sales, driven by higher prices and supply chain constraints, has affected battery manufacturers worldwide. LG Energy Solution’s management remains optimistic about a rebound as the market stabilizes.
The company has announced measures to streamline operations and invest in technology upgrades to maintain competitiveness in a challenging environment.