 "South Korea battery maker LG Chem shares jump, boosted by Tesla sales boom")
SEOUL (Reuters) - Shares in electric vehicle battery maker LG Chem <051910.KS> leapt as much as 4.1% in early trade on Thursday after the firm and major customer Tesla Inc both posted record quarterly profits.
Tesla on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers.
Meanwhile, LG Chem on Wednesday forecast a further rise in its battery sales and profit in the fourth quarter after posting record quarterly earnings thanks to growing demand for electric vehicle batteries.
The wider Seoul market <.KS11> was down 0.9% as of 0022 GMT.
(Reporting by Joyce Lee and Hyunjoo Jin; Editing by Kenneth Maxwell)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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