LG Energy Solution Q3 Profit Likely up 34% on US EV Sales Rush

Auto experts make dire warning about US car industry as EV incentives dwindle: 'The market is about to flip dramatically'

The electric vehicle market may face a bumpy road ahead, following the end of U.S. federal tax credits for new and used EVs last month.    What's happening? On Sept. 30, the $7,500 tax credit for new EVs and plug-in hybrids and the $4,000 credit for used ones expired. In a recent article, EnergySage took a look at what this could mean for the EV market. An objective, independent expert on all things solar, EnergySage helps consumers discover the…

LG Energy Quarterly Profit Beats Estimates on US Tax Credits

South Korean battery maker LG Energy Solution Ltd. reported preliminary third-quarter earnings that exceeded analyst estimates, propelled by US tax credits.

LG Energy Solution Q3 profit likely up 34% on US EV sales rush

SEOUL :Battery maker LG Energy Solution (LGES) said on Monday its third-quarter operating profit likely rose 34 per cent as U.S. consumers rushed to buy electric vehicles to take advantage of government incentives that expired on September 30.The South Korean company, which supplies EV batteries to General Mo

LG Energy Solution Forecasts 34% Rise in Q3 Operating Profit on U.S. EV ...

Turns Out EV Sales Needed The Tax Credit More Than Anyone Admitted

EV sales hit record highs as shoppers rushed to beat the tax credit deadline. Ford, GM, and Tesla all saw massive gains before the incentive expired. Leasing loopholes helped foreign-built EVs qualify for the federal benefit. For all the talk about market forces shaping the car industry, it still seems that government incentives are doing most of the heavy lifting for electric vehicles. Or at least they were, until the end of September, when the…

LG Energy Solution Forecasts 34% Profit Jump as US EV Buyers Race for Tax Incentives

LG Energy Solutions is one of the US producers of LFP batteries, a technology largely dominated by Chinese companies. The company stated that they are converting some of its US EV battery lines to start producing ESS in response to declining EV demand. LGES shares increased by 1.5%, even though the wider market fell by 1.4%. LG Energy Solution, a battery manufacturer, announced that its third-quarter operating profit is expected to increase by 3…