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EV battery giant LG Energy Solution upbeat on N.America market outlook

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Battery maker LG Energy Solution said demand for electric vehicle batteries in North America would likely stay strong this year, boosting its revenue, despite lingering worries about inflation

in North America, said its battery order backlog rose to 385 trillion won by the end of December, or more than 15 times its projected 2023 revenue.

LGES said it expects nearly half of its global battery production capacity would be designated for the North American region in the future, adding it expects to secure an annual battery capacity of about 540 gigawatt hours by the end of 2025. LGES said it was reviewing its investment commitments in the proposed Arizona plant, without elaborating.

 

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