LG Energy Solution posts record Q3 sales on rising ESS shipments

LG Energy Solution reported record quarterly sales of 9.64 trillion won, a 59 percent increase from the same period last year. This surge in sales is largely attributed to rising shipments of energy storage systems (ESS) in North America and stronger demand for electric vehicle (EV) batteries. The company's operating profit also saw a significant 25.7 percent rise, reaching 756 billion won. This growth is significant for the company's future prospects and the overall EV battery market.

Why it matters

LG Energy Solution's record quarterly sales and rising operating profit are driven by growing North American energy storage system shipments. This growth could lead to increased investor confidence and higher demand for the company's products.

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