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Market Chatter: LG Energy Solution Mulls Stepping into US Defense Sector with Drone Batteries

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LG Energy Solution (KRX:373220) is in discussions with the US government and key defense contractors in the country to supply batteries for drones and other unmanned weapons systems, as it looks at new growth engines amid the lower demand for electric vehicles, Bloomberg News reported Wednesday.

The South Korean battery manufacturer has received inquiries from several potential US partners, the company's president for North America Bob Lee told Bloomberg News.

Discussions remain in the early stages, but entering the defense sector would represent a major strategic shift for LG, which has historically avoided it, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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