Connect with us

Technology

EV battery giant LG Energy Solution aims to boost sales by 8% in 2022

Published

3 years ago

on

EV battery giant LG Energy Solution aims to boost sales by 8% in 2022

Battery maker LG Energy Solutions Ltd (LGES) said on Tuesday that it aims to boost sales by about 8 percent in 2022, as a global shortage of chips could ease later this year on market conditions for electric vehicle (EV) batteries will pick up.

The newly listed South Korean company, which accounts for one-fifth of the global electric vehicle battery market, turned a profit in the October-December quarter, even as a chip shortage affecting automakers led to lower-than-expected battery demand.

LGES, which became South Korea’s second-largest public company last month in the country’s biggest-ever initial public offering, said in its first earnings report that it posted an operating profit of 76 billion won ($63.5 million) in the fourth quarter.

Advertisement

By comparison, two analysts polled by Refinitiv expected a profit of 150 billion won, compared with a loss of 479 billion won a year earlier.

Analysts pointed out that a global shortage of chips has hurt demand from automakers, hurting the company’s performance. LGES rivals SK On and Samsung SDI Co Ltd reported similar impacts on battery demand in the fourth quarter.
The company, which supplies companies including Tesla and General Motors, saw revenue rise 2 percent year-on-year to 4.4 trillion won.

LGES said it had set its capital expenditure budget for this year at 6.3 trillion won, up 58 percent year-on-year, to fund capacity expansion at its global manufacturing facilities to meet demand for its batteries.

“Longer term, LGES will continue to move forward with bold investment plans. We believe our future-ready business model will certainly help us lead the industry,” LGES CEO Youngsoo Kwon said in a statement.

Advertisement

LGES debuted on the market in late January, and its market value soared to about $98 billion, second only to Samsung
Electronics shares are listed on the local bourse, reflecting an optimistic outlook for the electric vehicle battery industry.

Its shares have since risen another 8.5% and gained a further 3.5% on Tuesday, compared with a 1.2% gain in the broader market KOSPI.

Global EV sales are estimated at 2.5 million in 2020 and are expected to grow more than 12-fold to 31.1 million by 2030, accounting for nearly a third of new vehicle sales, according to consultancy Deloitte.
In late January, LGES said it planned to invest a total of $2.6 billion with General Motors to build a third joint battery plant in the United States, with the goal of securing an annual battery capacity of about 50 gigawatt-hours (GWh) by 2025, enough for about 700,000 batteries. electric vehicle. The two companies have established two combined battery plants in Ohio and Tennessee.

Complete News Source : Business Standard

Advertisement

Related Topics:
Continue Reading

YouTube

YouTube marks 20th anniversary by launching new useful features What’s new

Published

2 days ago

on

April 24, 2025

By

YouTube marks 20th anniversary by launching new useful features What’s new

YouTube has celebrated its 20th anniversary with several new features, including functional upgrades and new features for YouTube TV. The platform has introduced personalised radio stations via Ask Music, which is available to YouTube Premium and YouTube Music users on both iOS and Android devices. Additionally, YouTube is rolling out the ability to fast-forward.

YouTube TV members will gain the ability to build their own multiview experiences, starting with a selection of non-sports content from a small group of popular channels. The platform is introducing improved navigation, better playback quality, and easier access to features such as comments, channel information, and more through videos at 4x speed, providing more.

Advertisement
  1. Delete Unnecessary Emails: Regularly clearing unwanted emails helps maintain storage. Open Gmail in your browser or mobile device, go to your Inbox, Social, or Spam folder, filter messages, select emails to delete or check the box to select all emails in the folder, and click the “Delete” button. The emails will be moved to the Trash folder Empty Your Spam and Trash Folders: If deleted emails remain in your Trash.
  2. Unsubscribe from Unwanted Emails: Open a promotional email and click “Unsubscribe” at the bottom of the email to reduce future accumulation April 2025 — YouTube, the world’s largest video-sharing platform, is celebrating its 20th anniversary with the launch of several innovative features aimed at enhancing user experience, empowering creators, and embracing the future of digital content.

  3. 1. AI-Powered Video Summaries
    One of the most anticipated features is AI-generated video summaries, which will now appear below eligible videos. This allows viewers to preview content quickly and decide whether to watch the full video. The summaries are automatically created using advanced natural language processing and are designed to boost discoverability and engagement.

  4. 2. “Jump Ahead” Smart Chapters
    YouTube is introducing smart chapters with “Jump Ahead” capabilities, allowing viewers to skip to the most engaging parts of videos based on audience retention data. The feature leverages machine learning to identify sections that retain viewers the most and gives users a prompt to “Jump Ahead” with a single tap.

  5. 3. Creator Insights Dashboard Upgrade
    For content creators, YouTube has upgraded its Creator Studio Dashboard with enhanced real-time analytics, audience mood tracking, and AI-suggested titles and tags. The platform’s algorithms now offer dynamic suggestions for improving performance, personalized for each creator’s channel and content style.

  6. 4. YouTube Create App Expansion
    Following positive feedback from beta users, YouTube is officially rolling out the YouTube Create app in over 30 new countries. This free mobile video editing tool includes features like auto-captions, royalty-free music, filters, and multi-clip editing — giving creators more control without the need for expensive software.

  7. 5. Enhanced Live Shopping Tools
    With e-commerce booming, YouTube is expanding its Live Shopping tools, allowing creators to tag mini-social network within the platform. These tools are products, integrate affiliate links, and host shoppable livestreams with real-time viewer interaction. The new update supports multi-vendor support, making collaborations with brands smoother and more profitable.

  8. 6. Smart TV Upgrades
    YouTube is giving its TV interface a refresh, introducing a sleeker design with quicker access to playlists, subscriptions, and smart recommendations. A new “Ambient Mode interactive content suggestions and previews when the app is idle, turning the TV into a dynamic home hub for entertainment.

  9. 7. Community Tab Enhancements
    To improve engagement, YouTube is enhancing its Community Tab with interactive stickers, polls, countdowns, and quizzes — turning it into a mini-social network within the platform. These tools are aimed at helping creators keep their audience involved even between video uploads.
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

Continue Reading
Anyskill-ads

Facebook

Trending

en Englishhi हिन्दी
en English