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LG Energy Solution to supply EV batteries to Mercedes-Benz affiliate in North America

10/07/2024

Less than a minute

2024.10.07 22:55

SEOUL (Reuters) -South Korea’s LG Energy Solution said on Tuesday it signed a deal to supply electric vehicle batteries to a Mercedes-Benz (OTC:) affiliate in North America and other regions.

© Reuters. FILE PHOTO: An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. Picture taken November 23, 2021. REUTERS/Kim Hong-Ji/FIle Photo

The battery maker said in a regulatory filing it would supply 50.5 gigawatt per hour in batteries over 2028-2038, but said it cannot disclose the monetary size of the contract.

The announcement came after major automakers including General Motors (NYSE:) and Ford (NYSE:) reported weaker sales for the latest quarter with buyers continuing to shy away from purchases on affordability concerns, and Tesla (NASDAQ:) reported a smaller-than-expected rise in quarterly deliveries earlier this month.

10/07/2024

Less than a minute

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