LG New Energy Secures Mercedes-Benz Battery Order

According to a report by Reuters, a company document dated September 3 shows that South Korean battery manufacturer LG Energy Solution has secured an order to supply electric vehicle batteries to Mercedes-Benz. LG Energy Solution stated that by the end of 2035, it will supply 32GWh of batteries to the German automaker, but has not yet disclosed the value of the contract.

Image source: LG Energy Solution

In a separately submitted document, LG Energy Solution stated that it has signed another contract with a subsidiary of Mercedes-Benz, agreeing to sell a cumulative total of 75 GWh of batteries by the end of 2037.

A spokesperson for LG Energy stated in a phone call that more details of the aforementioned transaction cannot be disclosed to the public at this time.

In October 2024, LG Energy Solution announced that it had received a battery supply order from Mercedes-Benz, with a supply volume of 50.5 GWh.

Currently, LG Energy Solution is building battery factories in the United States and Europe, with customers including Tesla, General Motors, and Mercedes-Benz. These factories will help these automakers establish new supply chains for electric vehicle production and reduce their dependence on China.