LG Energy Solution inks supply deal worth $10.7 bil. with Mercedes-Benz

Korean battery maker LG Energy Solution said Wednesday it has signed two supply deals with Germany-based Mercedes-Benz AG with a combined volume of 107 gigawatt-hours (GWh). The company said in a regulatory filing that it will provide 32 GWh of batteries to Mercedes-Benz and 75 GWh to the carmaker's affiliate, without providing further details. Market watchers estimated the combined deal to be worth around 15 trillion won ($10.7 billion). The contract with Mercedes-Benz will run from 2028 to 2035, while the deal with its affiliate will run from 2029 to 2037. "The contract price has not been decided yet," the company said in the filing, noting that the supply volume and other details are subject to change depending on negotiations with clients. LG Energy Solution is widely expected to supply its next-generation 46-series cylindrical batteries to the European carmaker. The combined volume of the supply deals is enough to produce 1.5 million units of 70 kilowatt-hour (kWh) electric vehicles. The market price for 46-series cylindrical batteries is estimated at around $90 to $110 per kWh. "TheWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times