SEOUL, Dec. 8 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Monday it has signed a battery supply deal worth 2.06 trillion won (US$1.39 billion) with Mercedes-Benz AG. The supply, which will begin in March 2028, will run through June 2035, LG Energy Solution said in a regulatory filing. The volume [...]
SEOUL, Sept. 3 (Korea Bizwire) — LG Energy Solution has secured one of its largest-ever contracts with Mercedes-Benz, cementing its position as a core supplier in the German automaker’s electric vehicle push. The South Korean battery maker said Wednesday it signed two supply agreements totaling 107 gigawatt-hours (GWh). One covers 75 GWh of batteries for [...]
SEOUL, Aug. 29 (Korea Bizwire) — LG Energy Solution said Thursday it has signed a memorandum of understanding with Kim Long Motors to supply cylindrical batteries for the Vietnamese automaker’s upcoming line of electric buses, marking a significant step into Southeast Asia’s fast-growing EV market. Kim Long Motors, a subsidiary of transport giant Phu Thai Group, [...]
SEOUL, July 30 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s largest battery manufacturer, said Wednesday it has signed a 5.9 trillion won ($4.26 billion) contract to supply lithium iron phosphate (LFP) batteries to an undisclosed overseas client. In a regulatory filing, LG Energy said the agreement spans three years, from Aug. 1, 2027, [...]
NEW YORK, July 14 (Korea Bizwire) — LG Energy Solution and General Motors’ battery joint venture, Ultium Cells, announced plans to retool their Spring Hill, Tennessee plant to mass-produce low-cost lithium iron phosphate (LFP) batteries, aiming to begin production by late 2027. Ultium Cells said the production line overhaul will start later this year, shifting [...]
SEOUL, June 22 (Korea Bizwire) — In a bid to bolster its global R&D capabilities, South Korea’s LG Energy Solution held its first-ever European edition of the Battery Tech Conference (BTC) this week in Frankfurt, Germany, drawing top science and engineering talent from across the continent. The BTC, LG Energy Solution’s flagship global recruitment initiative, aims [...]
SEOUL, June 16 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s leading battery manufacturer, said Monday it has secured a deal with China’s Chery Automobile Co. to supply cylindrical electric vehicle (EV) batteries. Under the deal, LG Energy Solution will supply a combined 8 gigawatt-hours of its next-generation 46-series cylindrical batteries to Chery Automobile [...]
SEOUL, June 1 (Korea Bizwire) — LG Energy Solution has commenced mass production of lithium iron phosphate (LFP) batteries for energy storage systems (ESS) at its plant in Holland, Michigan, becoming the first major global battery manufacturer to operate a large-scale ESS LFP production line in the United States. The new batteries are long-cell-based, pouch-type LFP [...]
SEOUL, May 8 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday it has acquired General Motors Co.’s entire stake in their joint venture (JV) battery plant in Michigan for 3 trillion won (US$2.04 billion). The acquisition of the Ultium Cells JV No. 3 plant in Lansing, Michigan, is [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s major battery makers are increasingly reliant on U.S. subsidies under the Inflation Reduction Act (IRA) as a prolonged slump in electric vehicle (EV) demand—known as the “EV chasm”—drags on, clouding earnings prospects and investment strategies. Now, growing political uncertainty in Washington is further complicating the industry’s outlook. Companies like [...]