Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 30 (Xinhua) according to South Korean business media BusinessKorea, it is estimated that the combined operating profits of South Korea's three major electric vehicle battery manufacturers, LG New Energy, Samsung SDI and SK On, will exceed 5 trillion won (currently about 27.5 billion yuan) in 2023.

CTOnews.com has learned that LG New Energy expects operating profit to grow 94 per cent to 2.3606 trillion won this year. Samsung SDI expects operating profit to rise 30 per cent to 2.4321 trillion won, while SK On, which lost money last year, expects operating profit to be about 100 billion won.

By the end of last year, LG Energy Solutions had a backlog of orders of more than 385 trillion won. The company plans to increase 20GWh capacity in Europe, 40GWh in Asia and 40GWh in North America. Its annual production capacity was 200GWh last year and is expected to reach 540GWh in 2025. Samsung SDI began producing its fifth-generation batteries in the second half of last year and is expected to lead the company's sales growth this year.

It is estimated that the backlog of orders for the three major battery manufacturers will exceed 1000 trillion won (currently about 5.5 trillion yuan) in 2023.

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