LG Energy, a leading battery manufacturer, has reported a 40% decline in profits due to waning demand for battery-powered cars. The company's Q3 earnings fell short of expectations as sales of electric vehicles (EVs) slowed globally. This development highlights the challenges faced by companies invested in the EV sector, which is heavily dependent on government incentives and consumer adoption.

Source: https://www.bloomberg.com/news/articles/2024-10-28/lg-energy-profits-tumble-40-on-waning-battery-powered-car-sales