LG Energy Solution, a supplier of electric vehicle batteries to General Motors and Tesla, projected a 138% increase in its quarterly operating profit. However, the company reported an operating loss of 83 billion won ($56.52 million) in the first quarter when excluding tax credits. This was attributed to a decrease in demand for electric vehicles. LG Energy Solution anticipates an operating profit of 374.7 billion won for the January-to-March period, showing significant growth from the 157.3 billion won profit in the previous year. This figure is higher than the average market forecast of 29 billion won.