"LG Energy Solution has secured a $1.4 billion battery order from Mercedes-Benz for a seven-year supply deal running between March 2028 and June 2035, several Korean news outlets reported on Monday. The deal will cover Mercedes-Benz EVs for Europe and North America, as per the filing, but the contract value and terms could be subject to change. Still, it's a sign that the appetite for batteries isn't showing any signs of slowing down."
"In September, LGES said it would supply batteries totaling 32 gigawatt-hours to the carmaker by 2035 and another 75 GWh to a Mercedes-Benz affiliate by the end of 2037. Mercedes-Benz is planning to launch a full spectrum of EVs between now and the end of the decade, as it moves away from its jellybean-shaped cars such as the EQS and EQE, which got a lukewarm response, to a new generation of redesigned models riding on bespoke platforms."
Mercedes-Benz has agreed multiple battery supply deals with LG Energy Solution to secure billions of dollars worth of battery capacity for future electric vehicles. LGES received a $1.4 billion order for a seven-year supply from March 2028 to June 2035. LGES previously committed to supply 32 GWh by 2035 and 75 GWh to a Mercedes-Benz affiliate by 2037. Mercedes-Benz plans about 15 new or refreshed EV models over the next couple of years, including the CLA EV on the 800-volt Mercedes Modular Architecture and a GLC with EQ Technology on an 800-volt MB.EA platform. The supply agreements are intended to meet battery demand for the planned rollout.
Read at insideevs.com
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