LG Energy Solution Warns Of Slowing EV Battery Demand Due To U.S. Tariffs

South Korean battery maker LG Energy Solution has warned of a further slowdown in electric vehicle battery demand by early next year, citing U.S. tariffs and policy uncertainty, Yahoo Finance reported.

Tesla and General Motors are bracing for the fallout from the upcoming U.S. policy changes. I Photo: LG Energy Solutions

The company posted a quarterly profit increase, but cautioned that key clients—Tesla and General Motors—are bracing for the fallout from upcoming U.S. policy changes, including the end of federal subsidies for EV purchases on September 30.

“U.S. tariffs and the early termination of EV subsidies will put a burden on automakers, potentially leading to higher vehicle prices and a slowdown in EV growth in North America,” CFO Lee Chang-sil said during a conference call.