[Edaily Reporter JAEMIN SONG ] "In the fourth quarter, we increased ESS shipments to actively respond to demand in North America, and shipments are expected to rise by approximately 40% compared to the previous quarter.

We also expect shipments of high-voltage mid-nickel pouch products and cylindrical cells for European customers to remain steady through the end of the year. Given the North American joint venture (JV) that began operations in the third quarter, we project company-wide revenue to grow by approximately 10% compared to the third quarter.

However, there will be a base effect as various one-time factors recognized in the third quarter fade, and initial fixed-cost burdens are expected to arise in the fourth quarter due to preparations for the additional ramp-up of ESS production capacity at the Honda joint venture. Consequently, a slight slowdown in fourth-quarter profitability is considered inevitable.

Next year, volume growth for ESS is expected to continue based on orders secured in North America, and stable growth is anticipated for small-sized batteries as well, driven by sales of cylindrical batteries to strategic customers and new applications for the 46 Series. Revenue growth is also expected across all business divisions for pouch batteries for electric vehicles (EVs), supported by mid- to low-priced products and expanded production volumes in North America.

“We will focus on improving operational efficiency and maximizing capacity utilization within our existing production capacity, and we will do our utmost to achieve fundamental improvements in profitability by strengthening our structural cost competitiveness.”

…LG Energy Solution Q3 2026 Conference Call