South Korean battery manufacturer LG Energy Solution has signed new supply contracts with Mercedes-Benz, according to regulatory filings. The contracts stipulate the delivery of 32 gigawatt-hours of battery capacity for the European market between August 2028 and the end of 2035. Additionally, another contract covers the delivery of 75 gigawatt-hours for the German car manufacturer in the United States, valid from July 2029 to the end of 2037.
Estimates put the 107-gigawatt-hour order volume at the equivalent of approximately 10.8 billion US dollars or 9.3 billion euros. A report by KedGlobal states that the batteries will likely be cylindrical 46-format cells, possibly from the LG Energy Solution plant under construction in Arizona. These new agreements are in addition to a contract signed in October of 2024. At that time, the parties agreed to the delivery of 50.5 gigawatt-hours of batteries to a Mercedes-Benz subsidiary, scheduled to take place between 2028 and 2038, covering various regions including North America.
Source:
https://www.kedglobal.com/batteries/newsView/ked202509030009
