From Yahoo Finance: 2025-04-29 20:32:00

In the second quarter, LG Energy Solution expects a revenue decline due to U.S. tariff uncertainties, impacting shares. LGES plans to cut 2025 investments by 30% and delay construction of an Arizona battery plant. The company aims to expand its energy storage system business to offset slowing EV demand in North America.

LGES reported a 138% rise in Q1 profit, aided by foreign exchange rates and GM’s strong EV sales. However, GM retracted its annual forecast due to trade war uncertainty. Trump signed executive orders to ease auto industry tariffs, but LGES remains cautious about GM production amid tariff volatility.

LGES notes conservative battery purchases from automakers due to U.S. tariff uncertainties, including customers Tesla, GM, and Hyundai. CFO Lee Chang-sil highlights cautious production strategies among manufacturers supplying to the U.S. The company plans to develop a supply chain decoupled from China to mitigate market impacts.

Read more: LG Energy Solution flags Q2 sales decline as automakers hemmed in by tariff volatility