SEOUL, December 18 (AJP) -Shares of South Korea’s top battery maker LG Energy Solution have fallen more than 10 percent over the past week after Ford Motor announced it was withdrawing several electric-vehicle models amid changing market conditions.
The move triggered the cancellation of a long-term battery supply agreement with LG Energy Solution valued at 9.6 trillion won ($6.5 billion). Shares of LG Energy Solution — the third-largest stock on the KOSPI by market capitalization — slid 6 percent to 388,500 won on Thursday, following the disclosure released after the market closed Wednesday.
The stock had already fallen another 6 percent on Tuesday after the U.S. automaker said it would offer steep discounts on several EV models, including the F-150 Lightning.
The fallout spread across the battery sector. Samsung SDI shares were down 4.2 percent, EcoPro BM fell 4.8 percent, and L&F, a key cathode material supplier to LG Energy Solution, dropped 6 percent.
Ford’s EV pullback has also hit SK On, the unlisted battery arm of SK Group. The U.S. automaker recently walked away from a planned $11.4 billion battery joint-venture plant in Stanton, Tennessee, dealing another blow to Korea’s battery industry. The dissolution of the JV is expected to be finalized in the first quarter of 2026.
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