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Samsung SDI CEO Choi Joo-sun anticipates sluggish electric vehicle (EV) demand until mid-2025 but expects a gradual earnings recovery from the second quarter. Speaking at a major battery expo, Choi noted that the company’s earnings would likely hit their lowest point in Q1 before rebounding.
Samsung SDI reported a 257 billion won ($176.54 million) operating loss in Q4 2024, reflecting ongoing challenges in the EV battery sector. Despite this downturn, the company remains optimistic about long-term growth as market conditions stabilize.
Meanwhile, LG Energy Solution (LGES) CEO Kim Dong-myung projected an earnings recovery in the second half of the year. The Tesla supplier posted a 226 billion won ($158 million) operating loss in Q4, a sharp decline from its 338 billion won profit a year earlier.
Both South Korean battery giants are navigating weaker EV demand, impacting revenue and profitability. However, industry experts anticipate a rebound as the market adapts to shifting consumer preferences, regulatory policies, and advancements in battery technology.
As leading EV battery manufacturers, Samsung SDI and LGES play crucial roles in the global electric vehicle supply chain. Their recovery timelines will be closely watched by investors and industry stakeholders, as demand fluctuations continue to shape the sector’s future.
