SEOUL, Dec 18 : Shares of LG Energy Solution dropped as a lot as 7.6 per cent in morning commerce on Thursday after the corporate introduced a day earlier that Ford Motor had cancelled an electrical automobile (EV) battery provide deal.
The South Korean battery maker mentioned in a regulatory submitting that the termination adopted a discover from Ford after the automaker determined to halt manufacturing of some EV fashions as a consequence of coverage modifications and shifts within the outlook for EV demand.
Analysts famous that as a result of the cancelled contract had been scheduled to start in January 2027 it will be tough to instantly safe new orders to exchange the misplaced quantity, making delays in enhancing utilisation charges at LGES’ European plant in 2027 inevitable.
The benchmark KOSPI was buying and selling down 1.4 per cent as of 0009 GMT.
