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LG Energy Solution wins $1.4B deal from Mercedes-Benz to supply EV batteries globally from 2028 to 2035.
LG Energy Solution secured a $1.4 billion contract with Mercedes-Benz to supply EV batteries for North America and Europe from 2028 to 2035, marking the fourth major deal between the companies in two years.
The agreement, worth about 8% of LG’s 2024 revenue, is expected to focus on mid- to entry-level electric vehicles, signaling Mercedes-Benz’s shift toward more affordable EVs.
This follows earlier deals centered on high-performance batteries, indicating a diversification in battery types, including mid-nickel pouch and lithium iron phosphate cells.
The partnership strengthens LG’s global footprint amid competition from Chinese battery makers, particularly in Europe.
LG Energy Solution gana un acuerdo de $1.4B con Mercedes-Benz para suministrar baterías EV a nivel mundial desde 2028 hasta 2035.