News Formal

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

  • 📰 Reuters
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla Energy Generation And Storage Business: Q4 2022 ResultsThe Tesla Energy business consistently grows and the fourth quarter was not an exception, with especially strong results in the battery energy storage segment.
Source: InsideEVs - 🏆 579. / 51 Read more »