Global Electric Vehicle Battery Industry: Market Trends and Updates

LG Energy Solution's chief reports on Renault battery export and Tesla stock surge, while discussing the US presidential debate and minimum wage differentiation rejection.

### LG Energy Solution to Supply Renault with Lithium Iron Phosphate (LFP) Batteries; Tesla Stock Rebounds 44% from Year's Low
* 🔋 LG Energy Solution has won a contract to supply Renault with LFP batteries for electric vehicles, marking a significant achievement as the **first order for automotive-grade LFP batteries from a Korean company**.
* 📈 Tesla's stock price surged **over 10%** after the company announced its second-quarter vehicle delivery performance, with the stock rebounding **44% from its low at the beginning of the year**.
* 🚗 Tesla's Q2 delivery volume slightly decreased from a year ago but hit an **all-time high for energy storage device sales**.
* 🇰🇷 Due to the shortage of battery supply, Korean battery companies like LG Energy Solution are facing challenges in **maintaining high factory utilization rates**.
* 🇺🇸 The U.S. Federal Court's ruling partially dismissing election fraud claims against former President Trump has **reduced a major legal risk** for him.
* 💰 In anticipation of Trump's potential return to the presidency, U.S. interest rates have risen, leading to **concerns about inflation**. The 10-year Treasury bond yield **surged** after the news.
* ⚖ The proposal to **differentiate the minimum wage by industry** in Korea was rejected, following intense debate on the issue.
* 👁 To promote eye health, discounted lutein gummies are being offered, with the distribution deadline until **October**. The gummies contain marigold flower extract and are recommended for **daily consumption**.

Alright, then let's start by checking the news first on Wednesday. Our chief reporter, Kwon Soon-woo, is here. Please come in. Hello, I'm Kwon Soon-woo, the chief of the Pro TV coverage team. Nice to meet you. Well, when we see news like that, shouldn't we confirm rumors to some extent? For example, the story about a couple fighting in a car and then both dying, and it was said that one of them stepped on the accelerator. Shouldn't we at least confirm that the police have officially denied such stories? Yes, that's right. It seems like there are too many rumors circulating about such harsh and cruel stories. Anyway, it's not true. The police have confirmed that, right? The police have confirmed that, right? They haven't confirmed it yet. Anyway, that's not true. This is what they said, right? What's the cause...

I didn't specify it, but I checked and it's not true. Yes, the New York Stock Exchange went up again. It felt like reading a diary in Saudi Arabia. That's right. Oh, it's correct today. It's correct today. The Dow Jones rose by 0.41%, the Nasdaq index by 0.84%, and the S&P 500 by 0.62%. It seems like Powell's remarks had some influence. Anyway, the S&P 500 broke 5500, and the Nasdaq also broke through the 1000 mark. Powell mentioned that recent and previous indicators somewhat indicate that we are heading towards a path of disinflation. Actually, it's nothing new. Powell always talked like this. People are fickle-minded, speculating on whether they will raise interest rates a few more times or not, which is why the market...

There was some turbulence once, and now, what was it? Even if it's not done a few times, it doesn't seem like a big problem. I tend to interpret things positively like this when I like them. So, even with the amount that Paul Lee mentioned this time, I think signals for positive interpretation are circulating. Shall we take a look at the news? The first news is that LG Energy Solution has surpassed China and will export LF batteries to Renault for about 5 trillion won. Electric car batteries are a bit challenging these days, but I have been interested in eco-friendly cars and the automotive industry for a long time. I am very fond of electric cars and batteries now, of course, the transition to electric cars won't happen overnight.

It seems that before, we had quite high expectations, which clearly was a bit excessive. That's human nature. Also, social infrastructure doesn't change all at once. Recently, I met a quite influential person in a global oil major automotive company. And this person mentioned that the transition to electric vehicles might be a bit delayed. Surprisingly, there is this thing called human inertia. So, there are various reasons why the transition to electric vehicles takes longer than expected. And among the various reasons why oil companies are reluctant to switch to electric vehicles, apart from that, about half of the sales at gas stations come from convenience stores. Yes, that's right. For example, in the U.S., about half of the sales come from there. So, yes, a lot of people visit convenience stores. So, it's not just a matter of not being able to sell gasoline at gas stations. So, yes, that's why now, with electric cars.

When the conversion happens, in Korea, we mainly use regular chargers and external chargers, but in the U.S., they tend to have separate chargers in almost every home. So, it seems like they can't do convenience business. So, this is talking about a certain case. There are many family members involved in this huge energy shift. So, it may not change rapidly, but in terms of direction, there doesn't seem to be a big difference. After Tesla announced its vehicle delivery performance for the second quarter yesterday, the stock price surged by over 10%. Tesla's stock price has risen a lot this year. Tesla's stock price dropped by 44% from the beginning of the year.

It rebounded a bit, so how much percentage did it rebound from the beginning of the year? It gained 44%. Yes, based on the beginning of the year, so it recovered up to the point where it lost 7%. Oh, I see. It recovered a lot then. Would you like to see the chart together? Oh, this is based on the beginning of the year. It's as of January 1st. Here, it dropped by -44% and then fully recovered from that and even went up by 7%. Oh, I should have bought it back then. If we just talk about the news, it's not good. I really thought Tesla had dropped a lot, didn't you? Yes, there was a bit of a surprise in the delivery volume, and also, the sales of energy storage devices hit an all-time high. Of course, compared to the first quarter, it decreased by about 4.8% from a year ago. However, in the first quarter, and then continuously in the second quarter, the delivery volume decreased a bit, but actually, these are the parts where such sales volumes are showing.

So, if I may, let me talk about the situation in this neighborhood. We have been working on this since last year, and expectations were very high. So, with such high expectations, companies invested a lot. When a car company invests this much, the battery company invests this much to supply the car company, and other companies invest this much in materials. Consequently, compared to the expectations, the factory operation rate has decreased, supply shortages have appeared here, and the situation is like that. Therefore, to increase the factory operation rate, the speed of the process needs to be adjusted. It's a bit of a challenging situation. Additionally, Hyundai Customer Center reduced by 6.5%. Why did this happen? Well, around the end of last month...

I heard that it's from Russian hackers, a hacker named BlackShoe attacked the software supply management system used by software car dealers in the United States. They used ransomware to block it, saying they won't unlock it unless they receive money. Due to this incident, from the 19th of last month, for about ten days, there was a significant impact on car sales. They had to do everything manually to handle this. According to JD Power's analysis, sales would have decreased by more than 7%. Even due to this, when selling Hyundai hybrid or regular vehicles, they are not immediately delivered upon purchase. If there is a delay, won't the sales increase in July? Looking at the sales volume, the Ioniq EV sales increased by 17%.

The sales of Santa Fe Hybrid increased by 90%, and Tucson Hybrid by 28%. So, the sales of eco-friendly cars such as electric and hybrid vehicles continue to rise in the United States. You may think that they are not selling as much as expected, but they are steadily moving in the right direction. I would like to mention that LG Energy Solution's lithium iron phosphate (LFP) battery was impressive here. We are not good at praising ourselves, but we supply these batteries to Renault. Renault has a subsidiary company in the electric vehicle sector. Maybe some of you remember that I briefly mentioned Renault and Nissan a while ago, but I'm not sure if anyone remembers. Renault and Nissan used to fight when they were together, right? There was a big incident with the government's intervention, and Carlos was put in jail. At that time, Renault was.

Nissan sold some of its shares. Originally, they had control, but by selling, Nissan had the right to sell. They invested money in Renault. At that time, Renault's electric vehicle sector... Oh, their electric vehicle sector, a subsidiary, was divided. I'm not sure about that part. So, between the French government and the Japanese government, they were doing that. We knew about it while doing that. We helped them in the past, but since they didn't want to exercise their control and merge, they asked for something in return. The company that received the investment is a company that won't be sold. There is a bit of a story like this. Yes, they can produce about 590,000 electric vehicles. From the end of 2025 to around 2030, they will supply for about five years. However, LFB and cathode materials are among the cathode material companies in South Korea.

There aren't many things done properly, so there isn't much, so this is now being talked about as a delivery from China's Shanghai Reyon. So, even in the case of Europe, many Chinese electric car companies and battery companies have entered, but despite that, the reason is that the Tariff Commission has imposed tariffs on Chinese electric cars ranging from 10% to a maximum of 38.1%. Shanghai Automotive is subject to a maximum tariff of 38.1%, so if there are these aspects, some opportunities are emerging for Korean manufacturers. Currently, companies like LG Energy Solutions are facing a situation where European electric car companies are not taking batteries well, so the factory operating rate in Poland has dropped significantly. However, despite that, now Chinese batteries are being restrained, so you can see that each of the expected aspects is being implemented one by one.

Yes, so now, the vehicles produced here will have the Renault name attached again. Probably, the electric vehicle production platform, if you understand it now, will be similar. It's not exactly a platform, but it's a bit confusing whether it's the company or the business unit. They were planning to spin it off, you know. Originally, it was a business unit. They were trying to IPO it a long time ago. So, whether they spun it off or not, that's confusing. It's not a platform; it's the company, or the business unit, anyway. That's the form it takes. Oh, did I look at something wrong? Anyway, in the electric vehicle business unit, they are now planning to launch new electric vehicles. They are planning to supply batteries from the end of 2025. But now, towards LFP, LFP was originally quite dominant in China or worldwide.

So, now, in terms of a significant point, LG Chem's ESS has entered for the first time. So, if I briefly touch on a few points, LG Chem had tried to receive money from Sang-joo lawmaker to supply lithium iron batteries earlier this year around January or February. However, at that time, the lithium iron batteries were for ESS. Battery companies haven't been making lithium iron batteries for a long time. When you compare making them for cars and ESS, making them for cars is much more difficult. It's obvious, but you have to run fast and increase the density. It's relatively more difficult because it's inside a building on the ground. So, they first entered the ESS side. The fact that lithium iron batteries for cars are also going into ESS here is very significant anyway.

The first order is with Emden, but then there are quite a few car companies that want to use phosphoric acid, you know, because the price is relatively low. But back then, the reality was that there was only China in terms of options for phosphoric acid. But now, when Ensol gets the first order for this, a track record is created. So now, other companies like Ensol, seeing that Renault is using it, are thinking that Ensol's product is quite good too. In terms of creating a track record, it is very meaningful. So, before, they only thought of it as a material, but now, a record has been created in the automotive field, which is quite significant. And from a European perspective, it is also very meaningful. You've probably heard a lot about how they keep the U.S. and China out, but in Europe...

There are many things going on, and even car companies are using a lot of Chinese products. However, this time, there are a lot of discussions happening, like the news that Northvolt in Europe has already started producing batteries, talking about it for several years, and using a lot of cheap Chinese products. But it didn't work out, so they changed all the equipment to Korean-made ones. In Europe as well, there seems to be a trend of gradually not using Chinese products and using Korean ones. If you consider it as another symbolic event, it seems like a significant event. In any case, Ensol Tech is a very desirable news, and I think it could be an opportunity for the battery industry in Korea to explore new directions. Shall we move on to the second news? The second news is about the U.S. presidential debate.

Parts that I thought had no impact, when we just watched the news, we kind of thought, Oh, Biden is getting old, right? Professor Hong Sik came and made it so impactful. While interpreting in Korean, he said, Oh, Biden's acting was really the best. I thought he had forgotten his lines too. I even heard a brief silence and thought, What's going on? But it was acting. Biden did seem serious. Really, but when you see this, even within the Democratic Party, now this talk is starting to come out. This isn't the first time Biden has shown this kind of appearance. It happened about 15 or 20 times in the past year. Right? No, if there were situations like that, in fact, now with the presidential candidate coming out and the presidential election being decided, in this process, well, shouldn't the party members have been more actively appealing? Not just any candidate.

Just thinking it won't work and just, well, Biden will somehow make it happen. The fact that it has come to this point is a bit like, Isn't it too much not to think about the country? Even so, for the country to be well run, that shouldn't happen. Yes, and the next day, there was another positive development towards Trump. The federal court rejected Trump's election fraud at that time. So, they prevented Mike Pence, the president at that time, from certifying it, and then there was an incident where a mob stormed the Capitol. Trump, the former president, didn't say he did it wrong about that. So, if I were the president, if I did this, I have immunity. I did that, but the federal court partially recognized that part.

They gave it to him, so that was the most critical thing. So, he is a traitor. Yes, yes, yes, yes. Yes, yes. So, they demanded immunity for that, but the Supreme Court, the Federal Supreme Court, opened some of it up. So, this time, now, the legal risk that was the most critical for President Trump seems to be somewhat resolved. So, here, six Supreme Court justices appointed by Republican presidents supported it, while three justices appointed by Democratic presidents opposed it. It feels like the Supreme Court has become very political. When they threw it out, interest rates just shot up. Here, the U.S. 10-year Treasury bond yield skyrocketed. When Trump becomes the former president, inflation will rise. By how much?

Right now, it's at 4.43%, so if you look at the angle, this candlestick has risen sharply after the presidential debate. So, if former President Trump takes office, he will impose a 10% tariff on all imports and a 60% tariff on Chinese goods. So, imposing tariffs may be acceptable from the perspective of U.S. producers, but from the perspective of consumers, prices will simply rise. Therefore, concerns about inflation are arising here. So, if interest rates rise like this, they mentioned that they will also implement tax reduction policies, and it seems like they will spend a lot on things like fiscal policies. As a result, interest rates have risen, and when U.S. interest rates rise, it becomes a global issue, not just a U.S. issue. Currently, the yen has risen to 161.7 yen.

It's the highest level since 1986. I bought some Ana, but well, it's a personal story that I keep hearing. Ana was also at the bottom back then. I thought it was 150 or 8 or something like that. When it hit 160, the Japanese government definitely intervened. It's not just an expression anymore; they intervene somehow and bring it down. But it's not going down. This may be a meaningless story. Yes, this is a groundless story. When was that? Is it tomorrow's break or today's? Is it today's or tomorrow's break? In the U.S., right? Okay, then the U.S. market. So now, the dealers won't take a break, right? They're going in now because the Japanese government, when they intervene in the exchange rate, if they go in now, they might just get hit. But now, all the traders are resting.

Hitting the market is effective. When you hear such things, just chat with the market folks. Oh, then you should expect a drop when it's calm. So, isn't it most effective to intervene at that time? When you can't respond appropriately, just respond a bit. It's bothersome to respond, right? There are lunchbox bombs, you know. They come in when intervening in the exchange rate during lunchtime. That's when the traders go to eat, right? Well, such stories are coming out. As a result, the won is fluctuating, the yen is fluctuating, and now, in the case of France, with the extreme right winning the general election, isn't there a concern that the fiscal deficit will worsen here? Such concerns are arising. Therefore, from there, as the French interest rates are showing signs of rising again, you can see that this is the aftermath of the presidential debate, now with Trump.

I will tell you that the possibility of the president's election is increasing, and it is having a significant impact on the financial markets. Shall we move on to the third news? Yes, it seems like you are ready, but should we just do the news? Oh, sure, sure. Regarding the minimum wage, the proposal to differentiate by industry was rejected yesterday. So, this was also a crucial and fiercely debated issue in this year's minimum wage decision-making process. It was mentioned in the article that determining the minimum wage at 4 trillion won should take into account workers' cost of living, similar wages for similar work, productivity, and income distribution rates. It is stated in the Minimum Wage Act to differentiate by type of business. However, in Korea, this has never been done once. When we set the minimum wage in Korea, it is not simply setting the minimum wage. It is more about negotiating and grappling with each other.

During the fight, it's not just decided in the middle of it. There are indicators such as workers' cost of living, wages of similar workers, labor productivity, and income distribution rate. It's all shown as criteria, and decisions are made based on that. The demand for this came from the management side, and the workers thought it was discrimination, so they opposed it. So, the management representatives demanded that for businesses such as Korean restaurants, foreign restaurants, other small restaurants, and taxi services, the minimum wage should be applied differently. Here, the labor side naturally opposed the differentiated application, saying it's discrimination. Additionally, convenience store owners and small business owners had a lot of demands regarding this differentiated application. However, since 2018, the minimum wage has increased by about 52.5% until this year. But because of that, business owners have.

I mentioned that labor costs are too burdensome, and since the decision has been made, anyway, the decision was made to dismiss this year. So, what do you think about this, Director Jeong? When applying the minimum wage, it may vary depending on whose perspective it is. Simply put, the minimum wage is not about asking to give the minimum wage, but it is really the legal minimum threshold. If different wages are applied to different industries, those who receive the least should receive at least this wage, and then others should receive a slightly higher wage. It is considered normal to give more than this to those who are deemed to need a little more than this, right? That's the purpose of the system. However, when it comes to facing reality, the stories of self-employed individuals...

When you listen, for example, some people might be thinking about things like what kind of goshiwon it is, or what reading materials to focus on, right? Yes, if you consider these people as well, naturally, within the same time frame, there might be those who find it a bit more comfortable and easier. These individuals should also receive the minimum wage together, and the rest of the people should actually receive more when considering the intensity of labor and such. So, those who should receive more should also receive the minimum wage, right? Yes, so if you cannot raise their wages, in my opinion, is it important? Not important. Upon reflection, it seems unimportant. Oh, it seems like you want to escape from something. But anyway, it seems quite difficult for you. Yes, it's quite challenging. But when it comes to productivity, the idea is that in economics, you need to pay wages generously, and then things like small businesses, they...

Now, from the perspective of consumers, it can be very uncomfortable to hear that if the wages of these self-employed individuals and employees working there increase, consumers will end up paying higher costs. If we speak economically and objectively about the development of the service industry, making consumers pay more for the same service in the name of service industry advancement means that as consumers, we will have to bear more costs. This is a situation where not only employers and employees but also consumers may feel somewhat uncomfortable depending on the minimum wage situation. Additionally, from the perspective of consumers, there are concerns about raising the minimum wage too much by arguing that if the minimum wage is raised by 1.4 million.

Due to the minimum wage breaking the 10,000 won mark this year, there are speculations that it will not break the 10,000 won mark. Yes, now, it is necessary to pay more to those who work harder or something like that. Right, right, there are many situations where they cannot pay more because they cannot afford it. Ultimately, I do not think my opinion is important. I did not ask if my opinion is important. Let me say it again, my opinion is not important. But we talk a lot about this, like in Australia, the United States, about plumbers. Why do we talk so much about plumbers? I don't know why plumbers are so important. There are people who work physically, and there are many discussions about high labor costs. So, compared to that, I think our perception is a bit different. If you work physically or work in the 3D field.

Actually, we should give a bit more money. Um, those who are closer to the minimum wage, they always move based on the minimum wage. So, where can they have some power? There are those in public institutions who have a lot of authority but not much responsibility, and they earn a lot of money. So, everyone is in a difficult situation now. Those who work are struggling, and those who run businesses surely have their difficulties. Especially in terms of labor management, many people express great difficulties. Therefore, everyone, who was scolded yesterday, let's think about our society and all of us together.

Isn't it the right time? Have you ever been grabbed by the collar while walking on the street? It seems like a lot of people are going crazy these days. Is it right? People are going crazy. I didn't take a big shot today. No, I didn't. Anyway, we all need to have healthy days, especially these days when we look at our smartphones a lot and work all day long in front of screens. Yes, we look at them a lot. Our eye health, who is responsible for it? No one takes responsibility for our eye health, right? That's true. So, I suddenly thought, how about taking lutein gummies, putting them on the desk one by one, and eating them? These lutein gummies are very delicious.

Let our team leader try one as well. Here's the jelly I'm throwing to you. Enjoy it, Hoo-ya. It tastes good, just like the gummies. Yes, while you enjoy it, you can take care of our eye health with the lutein gummies. The distribution deadline is until October, so we need to sell quickly. That's why we are offering a big discount. Originally, it was 18,000 won, but now it's 12,000 won for three, 24,000 won. Since we are selling a lot like this, you can eat it until October. If you eat one a day, you will finish in two days, so you can continue to eat it afterwards. It's not good to eat two in a day, right? If you eat one or three a day, you can consume it for more than a week, so you can finish it all within this month. So, it's really.

We are selling discounted lutein gummies, Epi lutein gummies. If you go into our link right now, you can purchase them at a greatly discounted price. If you search on Naver and go in, you will probably have to pay the original price. So, I explain like this to let you see it at the discounted price. You need to consume a lot, right? It must be tough for you. You have to eat about 10 of these a day. Oh, they are sweet. It contains marigold flower extract. These are 30 in a pack. You can eat them like snacks to intake lutein again. But it's really delicious. Yes, yes. Our team leader also carries a bag of these and eats one by one on the desk. Please try eating them one by one. Throw them in, one, two, three, and then.

Please make sure to consume a lot of lutein. I hope you enjoy lutein gummies and snacks. Some may ask if we are discounting due to a short shelf life, but that's not the case. It might be somewhat correct. The expiration date is until October 4th, so it's not about clearance sales. It's not about clearance sales, right? If the expiration date is, for example, originally one year, and there are about 6 months left, it's smart for companies to sell a lot at a lower price, and consumers to buy wisely. I like buying things like this. Yes, so our viewers don't need to buy expensive products unnecessarily. I hope you can get good products at a discount. Then, Team Leader Kwon, we'll see you again tomorrow morning for eye health. Thank you. Thank you. Park Geun-hye, Lee Seon-hyeok, Sa Gyeong-in.

Create healthy investment habits with the careful care of investment masters like Yeom Seunghwan. Check it out on the 3% membership 3pro app.

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Tesla's Surging Stock Price and the Transition to Electric Vehicles

Tesla's stock price has surged by over 10% following the announcement of its second-quarter vehicle delivery performance.

The transition to electric vehicles is facing delays due to human inertia and the reluctance of oil companies, despite the high sales expectations.

The stock price of Tesla has risen significantly this year, despite a 44% drop at the beginning of the year.

Tesla stock rebounded by 44% from the beginning of the year, recovering from a 7% loss and showing a strong performance.

The company's delivery volume had a slight decrease in the first and second quarters, partly due to supply shortages caused by high expectations and investment.

Hyundai's car sales were significantly impacted by a ransomware attack by BlackShoe, leading to manual handling of sales and a potential decrease of more than 7%, while eco-friendly car sales, such as the Ioniq EV and Santa Fe Hybrid, showed significant increases.

LG Energy Solution's lithium iron phosphate (LFP) battery saw impressive use in Renault's electric vehicles, contributing to the steady rise of eco-friendly car sales.

Nissan's Investment in Renault and the Future of Electric Vehicle Production

Nissan sold some of its shares and invested in Renault, leading to a reorganization of Renault's electric vehicle sector.

The company plans to supply 590,000 electric vehicles from the end of 2025 to around 2030, with a focus on LFP batteries.

The entry of LG Energy Solutions into the ESS sector is a significant development in the battery industry.

The Impact of Ensol Tech's First Order and the U.

Ensol Tech's first order for phosphoric acid creates a track record, leading to increased interest in the company's product from other car companies, especially in Europe.

This shift from Chinese to Korean-made products in the European automotive industry is a significant event, symbolizing a trend towards moving away from Chinese products.

presidential debate saw discussions about Biden's performance and the federal court's partial recognition of Trump's election fraud, impacting the ongoing political situation.

The Impact of Legal Decisions on President Trump's Policies

The Federal Supreme Court's decision has somewhat resolved the legal risk for President Trump.

Six Supreme Court justices appointed by Republican presidents supported the decision, while three justices appointed by Democratic presidents opposed it.

The potential impact of Trump's policies, including tariffs and tax reductions, is causing concerns about inflation and is contributing to rising interest rates.

The Debate Over Differentiated Minimum Wage in Korea

The proposal to differentiate minimum wage by industry in Korea was fiercely debated and ultimately rejected.

This approach was demanded by management representatives for businesses like Korean restaurants and taxi services, but opposed by the labor side as discriminatory.

The minimum wage in Korea has increased by 52.

5% since 2018, leading to burdens on business owners, and the decision to dismiss the differentiated application for the current year.

The Impact of Minimum Wage Increase on Consumers and Businesses

Raising the minimum wage may lead to higher costs for consumers, causing discomfort and concern.

The discussion surrounding high labor costs, particularly in physical and 3D fields like plumbing, is creating a different perception of wage increases.

The situation is creating difficulties for both workers and businesses, especially in labor management, leading to a pressing need for societal consideration.

Special Discount on Epi Lutein Gummies Until October

Epi Lutein gummies are being offered at a discounted price of 12,000 won for three packs, with a distribution deadline until October.

The gummies contain marigold flower extract and have a shelf life until October 4th, unrelated to a clearance sale.

The promotion encourages consuming a high quantity of the gummies for eye health, with the team leader also endorsing their consumption.