Tesla battery supplier LG Energy, South Korean peers take hit from material costs

Investments in higher capacity also weigh on sector's earnings

20220804N LG and SK logos

South Korean electric battery manufacturers LG Energy Solution and SK Innovation reported depressed earnings for the second quarter. © Reuters

KOTARO HOSOKAWA, Nikkei staff writer

SEOUL -- Higher material prices have taken some of the spark out of earnings at South Korea's top makers of electric vehicle batteries.

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