Battery cells with the emblem of LG Power Answer are displayed on the firm headquarters in Seoul, South Korea, April 23, 2024. Reuters-Yonhap
Korean battery maker LG Power Answer Ltd. stated Monday it has signed a battery provide deal price 2.06 trillion gained (US$1.39 billion) with Mercedes-Benz AG.
The provision, which can start in March 2028, will run by way of June 2035, LG Power Answer stated in a regulatory submitting.
The amount accounts for 8 p.c of the corporate’s annual gross sales of 25.6 trillion gained in 2024.
The batteries will probably be provided to North American and European markets, the corporate stated.
“The contract quantity, length and different phrases are topic to alter beneath an settlement with the consumer,” LG Power Answer stated.
