An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. LGES, which supplies Tesla (TSLA.O), General Motors (GM.N) and other automakers, said revenue growth in 2024 would not be as high as the mid-30% rate forecast for this year. LGES shares dropped as much as 6.69% to the lowest level in more than 12 months, versus the benchmark KOSPI's (.KS11) 0.6% fall. The company also said it would produce cheaper lithium iron phosphate (LFP) batteries from 2026 to better respond to demand for lower-priced EVs. But it was down 6% from the June quarter due to the demand slowdown in Europe, production adjustments by automakers and lower metal prices.

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Persons: Kim Hong, Lee Chang, sil, Kim Gyunghoon, Kim, Kang Dong, LGES, 1,345.0800, Heekyong Yang, Joyce Lee, Miyoung Kim, Jamie Freed Organizations: LG Energy, REUTERS, GM JV, Korean, EV, General Motors, GM, Hyundai Motor Securities, Thomson Locations: Seoul, South Korea, SEOUL, China, Europe, Poland, U.S, Ohio, ARIZONA, Arizona