FILE PHOTO: Battery cells with the logo of LG Energy Solution are displayed at the company headquarters in Seoul, South Korea, April 23, 2024. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) - South Korean battery maker LG Energy Solution said on Monday it had a "conservative" view of revenue growth next year and that it will significantly reduce capital expenditure due to slowing electric vehicle demand, after booking a 39% third-quarter profit drop.
The company, which supplies Tesla, General Motors and Hyundai Motor, also expects the result of the U.S. presidential election next week to have a significant impact on EV market direction, its CFO said.
