[Concall] LG Energy Solution, Tesla Demand Slowdown Due to "Shanghai Lockdown... Closely Monitoring Economic Slowdown"

[Asia Economy Reporter Jeong Dong-hoon] LG Energy Solution recently addressed concerns about the decline in demand for cylindrical batteries destined for Tesla due to Tesla's reduced demand, stating that they are "closely monitoring and responding to the economic downturn and sales slowdown."

During the Q3 conference call on the 26th, LG Energy Solution explained that the decrease in Tesla's demand and the resulting price cuts for electric vehicles are "understood to be effects caused by logistics disruptions due to the Shanghai lockdown amid COVID-19," adding, "However, we are aware of the possibility of some sales slowdown due to the economic recession and are carefully observing the situation and responding closely."

Recently, Tesla lowered the base prices of its Model 3 and Model Y vehicles by 5-9% in response to weakening demand in the Chinese market.

LG Energy Solution further stated, "However, our customers' demand remains solid in the fourth quarter," and "We expect our electric vehicle sales to also remain robust in the fourth quarter."

This content was produced with the assistance of AI translation services.