Mercedes chooses LG over Chinese firms in $11 bil. battery deal

LG Energy Solution (LGES) has reaffirmed its status as the main supplier to Mercedes-Benz, signing additional deals to provide the German automaker with 107 gigawatt-hours (GWh) of batteries, enough to power 1.5 million electric vehicles (EVs). According to its regulatory filings Wednesday, LGES will provide Mercedes-Benz AG with 32 GWh of batteries in Europe from August 2028 to December 2035 and to the German carmaker’s affiliate in the United States from July 2029 to December 2037. The combined value of the two deals is estimated at $10.7 billion, as the batteries are presumed to be 46-series products, which cost $100 per kilowatt-hour. LGES plans to begin mass production of the next-generation cylindrical batteries next year at its Arizona plant, currently under construction. “In compliance with our agreements with the client, we cannot confirm additional details,” an LGES official said. Last October, LGES signed a separate deal with Mercedes to supply 50.5 GWh of EV batteries in North America and other markets between 2028 and 2038. At the time, industry officials also assumedWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times