While the Covid-19 pandemic has dented demand for electric vehicles this year, a South Korean supplier expects its battery sales to reach a new high thanks to strength in Europe and a contract with Tesla Inc.’s factory in China.
Revenue at LG Chem Ltd.’s battery business will reach a record of about 13 trillion won ($11 billion) this year, before hitting 30 trillion won in 2025, Chief Executive Officer Hak Cheol Shin said in an interview at his office in Seoul.
