LG Energy Solution plans to work with three Chinese material suppliers to counter EU tariffs on Chinese electric vehicles

South Korea's LG Energy Solution (LGES) is reportedly in talks with about three Chinese material suppliers to produce batteries for low-cost electric vehicles in Europe. The move is in response to the EU's tariffs on Chinese-made electric vehicles, further intensifying competition. LG Energy Solution is seeking potential partnerships at a time when demand in the global electric vehicle industry is slowing sharply, highlighting the growing pressure on non-Chinese battery companies from automakers.