We will have to cut capital expenditure considering sluggish EV market conditions and client demand, commented Lee Chang-sil, LGES' Chief Finance Officer.
At the TSLA Q1 2024 earnings call, Elon Musk commented that battery orders from EV automakers have declined...a lot of our suppliers have excess capacity.
Legacy automakers are turning to plug-in hybrid production while EV sales are down. Hyundai's Georgia Metaplant initially for EVs will now also produce hybrids.
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