It joins a growing number of automakers and suppliers expressing caution about demand for EVs, as they fear high interest rates lifting financing costs and sputtering growth in major economies such as China and Europe will impact car buyers. "EV demand next year could be lower than expectations," LGES Chief Financial Officer Lee Chang-sil said on an earnings call, citing those factors, as well as automakers adjusting their EV strategies in response. LGES, which supplies Tesla, General Motors and other automakers, said revenue growth in 2024 would not be as high as the mid-30% rate forecast for this year.
LG Electronics (LG) is stepping into the spotlight as the official headline partner of Frieze Seoul 2023 (September 6-9). The company will be showcasing special art collaborations that reaffirm its dedication to highlighting the intrinsic link between art and technology as a part of its ongoing LG OLED ART project. For this year's edition of Frieze Seoul, LG is partnering with the Whanki Foundation to present "We Meet Again in Seoul," a curated selection of paintings by master of Korean abstract
Self-driving startup Venti Technologies said on Tuesday it has raised $28.8 million in Series A funding to speed up the growth of its autonomous vehicle (AV) business for customers the logistics and supply chain industry. Investors in the funding round included LG Technology Ventures, the venture capital arm of LG Corp unit LG Group, and UOB Venture Management, the venture capital arm of Singapore's United Overseas Bank.