LG Energy Solution, a South Korean battery manufacturer, has secured two significant multi-year agreements with Mercedes-Benz to supply a total of 107 GWh of electric vehicle batteries, valued at approximately $11 billion. The contracts include 32 GWh for the EU and 75 GWh for the U.S., with terms subject to change. The EU contract runs from September 2023 to December 2035, while the U.S. agreement extends from July 2029 to December 2037. These contracts reinforce LG’s goal of becoming a leading battery supplier in North America by 2030, alongside existing deals with other automakers.

Source: https://www.supplychaindive.com/news/mercedes-benz-secures-long-term-battery-supply-deal-11b-lg-energy-solution/759884/