South Korean EV battery producers, LG Energy Solution (LGES), Samsung SDI and SK, released their financial results for Q1 2022.
- All three producers posted an increase in sales in Q1 2022 compared to the previous year.
- The impact of rising raw material costs was reported to be limited to their Q1 profitability.
- Samsung SDI showed a considerable improvement in profitability primarily driven by strong demand for Gen 5 batteries.
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