LG Chem swings to profit on strong demand for electric car batteries
- The Tesla supplier posted operating profit of 674 billion won ($610.20 million), versus a loss of 33 billion won in the same period a year earlier.
File photo - The logo of LG Chem is seen at its office building in Seoul, South Korea.
South Korea's LG Chem Ltd said on Wednesday it swung to a profit in the fourth quarter of 2020 on strong demand for its electric car batteries.
The South Korean chemicals and battery maker, whose wholly-owned battery subsidiary LG Energy Solution supplies Tesla Inc, posted operating profit of 674 billion won ($610.20 million), versus a loss of 33 billion won in the same period a year earlier.
Also check these Cars
Find more Cars
UPCOMING
64.8 kWh
418 Km Alert Me When Launched
View Offers
View Offers
UPCOMING
Alert Me When Launched
1497 cc
Multiple View Offers
View Offers
The result is lower than the 777 billion won Refinitiv SmartEstimate derived from 19 analyst estimates.
Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.
First Published Date: 27 Jan 2021, 14:25 PM IST
NEXT ARTICLE BEGINS
