LG Energy to Boost Energy Storage as EV Demand Cools

Imagine LG makes batteries for both electric cars and big power storage systems.

Because fewer people are buying electric cars right now, and taxes on electric cars are changing, LG wants to sell more of the big power storage batteries.

They plan to make a lot more of these batteries in the US, which helps them get tax breaks.

They are already making some of these batteries in Michigan and plan to make even more.

They expect the business to grow quickly, because lots of places need this type of storage.