SEOUL : South Korea’s LG Energy Solution said on Wednesday quarterly profit more than doubled, as the battery maker benefited from subsidies from the U.S. Inflation Reduction Act and solid U.S. sales of electric vehicles. Its shares jumped as its earnings met forecasts. The company, which supplies Tesla Inc, General Motors Co and others, said […]
Hyundai Motors finalises $5 billion battery JV in US, doubles Q1 profit – EQ Mag
SEOUL : South Korea’s Hyundai Motor Co said on Tuesday it had finalised a $5 billion electric vehicle (EV) battery joint venture in North America, as it reported first-quarter net profit had more than doubled, exceeding expectations. Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd, will set up a new […]