According to news reports, LG Energy Solution announced on December 8 that it has signed an electric vehicle battery supply contract with Mercedes-Benz Group AG. The contract is valued at $1.4 billion (US), equivalent to about 8% of LG Energy Solution’s total sales volume last year.
Under the agreement, LG Energy Solution will supply power batteries to Mercedes-Benz plants in North America and Europe from March 1, 2028, to June 30, 2035. It is widely speculated that the batteries covered by this contract are primarily intended for mid- to low-end electric vehicle models.
Previously, as another news report stated on September 3 based on company filings, LG Energy Solution had secured an order to supply EV batteries to Mercedes-Benz. At the time, LG stated that it would provide 32 GWh of batteries to the German automaker by the end of 2035, though the contract value was not disclosed.
In a separate filing, LG Energy Solution noted that it has also entered into another contract with a subsidiary of Mercedes-Benz, committing to supply a cumulative 75 GWh of batteries by the end of 2037. Combined, these agreements will see LG Energy Solution delivering a total of 107 GWh of batteries to Mercedes-Benz.
Source: WeChat Official Account——马里亚纳锂电
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