Overview

• LG Energy Solution posted a Q2 operating profit of 492.2 billion won and net profit of 90.6 billion won after a prior-year loss, driven by robust U.S. demand and Inflation Reduction Act credits.
• CFO Lee Chang-sil cautioned that looming U.S. battery import tariffs and the scheduled September end of federal EV tax credits could slow North American EV growth by early next year.
• LG Energy Solution plans to repurpose U.S. EV battery lines for energy storage systems, ramp up LFP battery output at its Michigan plant and defer some investment to improve second-half margins.
• LG Electronics recorded a 3.1 percent Q2 net profit decline to 609.7 billion won and a 46.6 percent drop in operating profit on rising logistics and tariff costs.
• LG Electronics will shift washing machine production to Mexico in September to secure incentives and avoid duties, leveraging record B2B sales in vehicle components and HVAC.