LG Energy Solution Posts Strong Q1 Earnings on Robust EV Demand

South Korea’s LG Energy Solution reported a 61% year-on-year rise in quarterly profit, driven by strong demand for electric vehicle batteries, especially in North America. The company plans to expand production capacity in the U.S. and strengthen partnerships with major automakers like General Motors and Tesla. Rising raw material costs and supply chain uncertainties remain challenges, but the firm expects continued growth in the global EV market.