SEOUL — South Korean battery makers are reducing workforces and curtailing production in the U.S. as the transition to electric vehicles slows, casting a shadow over an industry seen as a pillar of President Joe Biden’s economic policies.
LG Energy Solution, the world’s second-largest battery maker, said on Wednesday that it will let go of about 170 employees, or 14% of its workforce of 1,200 in Holland, Michigan, between December and January.