LG Energy Solution's Surprising Profit Surge: Tax Credits and Trump's Impact
LG Energy Solution's operating profit more than doubled in Q2, driven by tax credits and fears of higher tariffs. We explore how these factors and future policies may affect their growth.
In this episode of UK Business Morning, Alice and Lewis delve into LG Energy Solution's remarkable second-quarter profit surge, which more than doubled despite a 9.7% drop in sales. They discuss the impact of the Inflation Reduction Act's advanced manufacturing production credit (AMPC) and how fears of higher tariffs led to frontloaded orders. With Trump's potential scaling back of these credits, the hosts analyze the challenges and opportunities for LG Energy Solution, the third-largest EV battery producer. They also touch on the slowing EV demand growth, competition from Chinese firms like CATL, and the significance of the AMPC's extension until 2032. Tune in for insights into the evolving EV battery market and what's next for LG Energy Solution.
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