South Korean battery maker #LG Energy Solution (LGES) reported Friday a net loss of 411 billion won ($287.2 million) in Q4 2024, versus a net profit of 190.3 billion won in the same period a year earlier.

The firm recorded an operating loss of 225.5 billion won in the quarter, versus an operating profit of 338.2 billion won in the same period a year earlier.

This is the first time in three years that LGES has posted a quarterly loss, mainly due to the slowdown in demand for electric vehicles.
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