LG Energy Solution shares were weak on the morning of the 19th. The slide appeared to reflect continuing fallout from news that the electric-vehicle battery supply contract between LG Energy Solution and U.S. automaker Ford had been terminated.
As of 10:01 a.m. that day, LG Energy Solution was trading at 370,000 won on the main bourse, down 2.325% (8,500 won) from the previous session.
Earlier, on the 17th, LG Energy Solution disclosed that its contract with Ford to supply battery cells and modules for electric vehicles in Europe had ended following a termination notice from the counterparty. The disclosure appeared to rapidly stoke caution toward the secondary-battery industry.
LG Energy Solution plunged 8.90% at the close the previous day. Other secondary-battery-related stocks were also weak that day. Samsung SDI, POSCO FUTURE M, EcoPro, and EcoPro BM were all down.