LG Ensol President "U.S. Battery Subsidies Will Not Change Significantly"

LG Energy Solution President Kim Dong-myung drew a line on concerns that tax credits could be reduced under the Inflation Reduction Act depending on the results of the U.S. presidential election, saying subsidies would not change much.

President Kim met with reporters at the Battery Industry Day ceremony held in Gangnam-gu, Seoul today (1st) and said that all companies are preparing for the U.S. presidential election scenario and are trying to respond well.

However, he did not mention the specific timing of the surplus transition, saying that it would come soon, excluding tax credits.

Regarding the slowing demand for electric vehicles and the catharsis, President Kim said, "I think we will overcome it in the next year or so," adding that securing demand is the most important thing.