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Business trends

South Korean battery makers' sales surge from soaring EV demand

LG Energy, Samsung SDI, SK Innovation benefit from weak won, shift away from China

LG Energy Solution saw a 90% jump in July-September sales, buoyed by the spread of electric vehicles. (Photo courtesy of LG Energy Solution) 

SEOUL -- South Korea's top three battery producers posted sharp increases in sales for the third quarter, according to results released by Friday, thanks to skyrocketing demand for electric vehicle batteries.

Sales of EVs continue to climb, lifting demand for South Korean batteries among North American and European automakers. The weaker won against the dollar have also boosted earnings.

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