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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Seoul, Sept. 3 — LG Energy Solution (LGES) announced today that it has signed a major supply agreement with a Mercedes-Benz affiliate to deliver a total of 107 gigawatt-hours (GWh) of cylindrical batteries — enough to power approximately 1.5 million electric vehicles. Industry estimates place the deal’s value at around KRW 15 trillion (USD 11 billion).
Under the agreement, LGES will provide 75GWh of battery capacity in the United States and 32GWh in Europe, marking the company’s largest-ever cylindrical battery supply contract to date. LGES plans to ramp up production of its next-generation 46-series cylindrical cells (46mm in diameter) to meet growing demand from global automakers.
To support the contract, LGES is constructing a 36GWh cylindrical battery plant in Arizona, U.S., with full-scale mass production scheduled to begin next year. The company aims to expand production capacity in line with the rising demand from Mercedes-Benz and other key global customers.
Photo Caption: LG Energy Solution’s cylindrical battery cells, which will be supplied to Mercedes-Benz under a landmark 107GWh contract.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
