LG Energy Solution Q2 Profit Rises as It Plans North American Shift, Energy Storage Expansion Amid EV Demand Slowdown and Tariff Impact

LG Energy Solution reported a rise in its second-quarter profits despite a forecasted slowdown in electric vehicle (EV) demand expected by the first half of 2026. The company has indicated that automaker orders for EV batteries are likely to decline, prompting a reassessment of its manufacturing strategy in North America. LG Energy Solution is considering converting some EV battery production lines to focus on energy storage system (ESS) batteries, responding to growing demand in that segment. Additionally, the firm plans to expand its energy storage business in the U.S. to offset the challenges posed by increased tariffs and a global reduction in consumer demand.