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This photo shows a battery factory of Ultium Cells, a joint venture between LG Energy Solution (LGES) and GM / Courtesy of Ultium Cells

LG Energy Solution on Monday estimated its 2022 operating profit at 1.21 trillion won ($976 million), up 57.9 percent from a year earlier.

Annual revenue increased 43.4 percent to 25.59 trillion won. The data for net profit was not available.