LG New Energy's third-quarter revenue tops $5.3 billion

Pinwan, October 26th, according to Techweb reports, LG New Energy’s financial report released on Wednesday showed that LG New Energy’s revenue in the third quarter was 7.648 trillion won, an increase of 89.9% year-on-year and a month-on-month increase of 50.8%. The financial report shows that LG New Energy’s operating profit for the quarter was 522 billion won, an increase of 166.8% from the previous quarter. LG New Energy's CFO said they increased shipments of electric vehicle batteries, which boosted their revenue, thanks to increased demand from North American and European markets, North American grid energy storage systems and newly launched IT equipment Rising demand for batteries also contributed to their strong third-quarter results.