LG slows EV cell plant with GM in US as political worries swirl

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LG slows EV cell plant with GM in US as political worries swirl - Business Mirror

Quick Summary:

South Korean battery maker LG Energy Solution Ltd.is slowing construction of its third plant with General Motors Co.in Michigan amid lackluster demand for electric cars and as foreign firms worry about political change in the United States.

Former President Donald Trump has vowed to take action against the so-called Inflation Reduction Act and wind back Biden’s pro-EV policies should he win the election.

South Korea’s third other large cell maker, SK On Co., has also declared an emergency after generating a big loss in the first quarter.