LG New Energy said that due to the slowdown in electric vehicle sales, its first-quarter sales are expected to drop 30% to 6.13 trillion won (currently about 32.918 billion RMB), and operating profit will drop 75% year-on-year. %, to 157.3 billion won (Note: currently about 845 million RMB).
LG New Energy has only released preliminary statistics and plans to release a final earnings report later this month.
LG New Energy also said that it plans to invest US$5.5 billion to build a battery manufacturing complex project in Arizona. It is currently progressing smoothly. The battery factory has begun construction and is expected to be put into production in 2026.
LG New Energy plans to produce 46 series cylindrical batteries for electric vehicles and lithium iron phosphate (LFP) soft pack batteries for energy storage systems at its Arizona factory. The annual production capacity is expected to reach 36 GWh and 17 GW respectively. hour.
