Battery makers' output slows on waning EV demand
An increasing share of manufacturing capacity is not being used in Korea’s battery industry due to waning demand in the electric vehicle market. But manufacturers remain optimistic about a recovery later this year as inventory adjustments end and new EV models are launched. Official data released this week reveal that LG Energy Solution’s factory capacity utilization rate fell to 57.4 percent in the first quarter, a steep decline from 77.7 percent during the same period last year. Si
May 22, 2024