LG Energy Solution Ltd (LGES) said on Wednesday it shifted to the black in the third quarter from a year earlier on the back of robust demand in electric vehicle (EV) batteries and a weaker Korean won currency.
The battery maker said it will continue its focus on North America, a fast-growing EV market, and step up to build stable supply chains for raw materials to meet the requirements in the new US policy on EV and green energy.
Net profit came to 187.7 billion won ($131.3 million), swinging from a loss of 205.8 billion won a year earlier, the company said in a regulatory filing.
