[Concall] LG Chem "Difficult to Fully Internalize Batteries... Will Increase Orders in Boeung and Premium Markets"
[Asia Economy Reporter Hwang Yoon-joo] LG Chem stated in its Q1 2021 earnings conference call on the 28th, "It is difficult for automakers to internalize the entire volume of electric vehicle batteries," and added, "To hedge against battery sourcing risks, cooperation with top-tier battery companies such as LG Chem will continue."
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LG Chem explained, "With the Volkswagen Group announcing its internalization plans, orders are inevitably expected to decrease to some extent in the mid to long term," but added, "However, the battery business has several entry barriers for new companies, and it requires the accumulation of numerous core technologies, patents, and extensive mass production know-how."
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