LGES chief executive officer Kwon Young Soo told reporters that he expected the company’s market share to overtake that of Chinese rival CATL, without specifying a time-frame, because it had a wider range of customers and CATL only currently operated factories in China.
SEOUL: Days before pricing its US$10.7bil (RM44.94bil) initial public offering (IPO), South Korean battery maker LG Energy Solution (LGES) has forecast that its market share will overtake main rival Contemporary Amperex Technology Co Ltd (CATL), thanks to its wider range of customers, and says it is aiming for a double-digit operating margin.
LGES chief executive officer Kwon Young Soo told reporters that he expected the company’s market share to overtake that of Chinese rival CATL, without specifying a time-frame, because it had a wider range of customers and CATL only currently operated factories in China.
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