Industry

Samsung SDI posts Q1 revenue of 3.58 trillion won; operating loss narrows to 155.6 billion won

Samsung SDI said on April 28 it posted first-quarter revenue of 3.58 trillion won and an operating loss of 155.6 billion won. Revenue rose 12.6 percent from a year earlier, while the operating loss narrowed 64.2 percent. Net profit came to 56.1 billion won, returning to the black. Battery business revenue rose on recovering demand, while electronic materials improved on steady semiconductor sales and higher display materials sales.

Industry

Tesla Model S heads for phase-out after 14 years

Tesla is moving to effectively wrap up production of its flagship electric sedan, the Model S, ending a 14-year run. The Model S is seen as more than a luxury EV, changing consumer expectations for electric cars and the wider auto market. Launched in 2012 with an 85 kWh battery and an EPA range of up to 265 miles, it highlighted long-distance EV capability despite limited charging infrastructure at the time.