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LG Energy Solution Releases 2026 First-Quarter Financial Results
The battery maker posted a KRW 207.8 billion operating loss as 46-Series EV orders topped 100GWh and the backlog rose above 440GWh.
- On Wednesday, LG Energy Solution reported 6.6 trillion won in Q1 2026 revenue, a 1.2 percent quarter-on-quarter increase, but posted an operating loss of 207.8 billion won.
- Ramp-Up costs at five North American energy storage system production bases and reduced pouch-type EV battery shipments to major customers weighed on profitability, while Inflation Reduction Act production incentives fell significantly to 189.8 billion won.
- Despite these results, the company secured over 100GWh of new orders for 46-Series cylindrical EV batteries in the first quarter, pushing its total order backlog to more than 440GWh.
- Establishing its North American ESS network, the company added three standalone and two joint venture facilities, aiming to reach more than 50GWh of production capacity by year-end.
- CEO Kim Dong-myung plans to drive growth by prioritizing power infrastructure and data center projects, while preparing to launch production at the Arizona facility later this year.
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LG Energy Solution Releases 2026 First-Quarter Financial Results
LG Energy Solution posts KRW 6.6 trillion in consolidated revenue and KRW 207.8 billion in operating loss in Q1 2026In Q1, the company secured over 100GWh of new orders for its 46-Series cylindrical EV batteries, with
·New York, United States
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Total News Sources41
Leaning Left5Leaning Right6Center13Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 21%
C 54%
R 25%
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