LG Energy Solution Reports Q1 Operating Loss Amid Rising Battery Demand
LG Energy Solution reported a first-quarter operating loss of KRW 207.8 billion despite a 1.2% increase in revenue to KRW 6.6 trillion. The loss was driven by rising costs from capacity expansion and a shift in product mix, including declining pouch-type EV battery sales. The company is focusing on energy storage systems (ESS) as a growth area, with ESS contributing around 20% of total revenue.
Topics: battery demand capacity expansion energy storage systems operating loss revenue growth