South Korea's LG Energy Solutions, which is a battery supplier for U.S. automakers like Tesla Inc. (NASDAQ:TSLA) and General Motors Co. (NYSE:GM), says that President Donald Trump's tariffs are slowing down EV battery demand.
What Happened: "U.S. tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," the company's CFO Lee Chang-sil said during a call with investors, Reuters reported on Friday.
