Details
📦 Contract Volume: LG Energy Solution secured orders worth about KRW 15 trillion (USD 10.8 billion), split across two contracts totaling 107 GWh of battery capacity.
🇺🇸 US & Europe: 75 GWh will go to Mercedes in the US between 2029 and 2037, and 32 GWh to Europe between 2028 and 2035.
🔧 Technology: Cylindrical 46-series cells will be supplied — the largest single mandate for this format in LG’s history.
🏭 Production: The batteries will be produced at new plants in Arizona and Poland, which will also supply Mercedes and other OEMs like Tesla and GM.
⚔️ Competition: LG beat out Chinese rivals such as CATL and Farasis — a strategic win in the global battery race.
Big Picture
These contracts cement LG Energy Solution’s role as a key partner for Mercedes and bolster Korea’s position in the global battery market. While China dominates in volume, Korea is securing crucial access to Western supply chains through local manufacturing in the US and Europe combined with top-tier technology.
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