SEOUL (Reuters) -South Korea’s LG Energy Solution has won an order to supply electric vehicle batteries to Mercedes-Benz AG, according to a company filing on Wednesday. LG Energy Solution will supply 32 gigawatt-hour batteries to the German automaker by the end of 2035, the Seoul-based firm said, without disclosing the value of the contract. In […]
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South Korea’s LG Energy Solution wins battery orders from Mercedes-Benz
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SEOUL (Reuters) -South Korea’s LG Energy Solution has won an order to supply electric vehicle batteries to Mercedes-Benz AG, according to a company filing on Wednesday.
LG Energy Solution will supply 32 gigawatt-hour batteries to the German automaker by the end of 2035, the Seoul-based firm said, without disclosing the value of the contract.
In a separate filing, the company said it had signed another contract with a Mercedes-Benz affiliate to sell 75 gigawatt hours of batteries in total by the end of 2037.
The company was not able to make further details of the deals public, a spokesperson said by phone.
In October 2024, the Korean company announced an order for supplying 50.5 gigawatt-hour batteries from the German carmaker.
LG is building battery plants in the U.S. and Europe for customers including Tesla Inc., General Motors and Mercedes- Benz, helping their ambition to build new supply chains for manufacturing electric vehicles and reduce reliance on China.
(Reporting by Heejin Kim and Ju-min ParkEditing by Ed Davies)