LG Energy Solution Signs Deal with Mercedes-Benz for Battery Supply

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

The battery manufacturer stated in a regulatory filing that it would provide 50.5 gigawatt-hours of batteries from 2028 to 2038. However, it did not disclose the monetary value of the contract.

This announcement follows reports from major automakers, including General Motors and Ford, indicating weaker sales in the latest quarter as buyers are hesitant due to affordability concerns. Additionally, Tesla reported a smaller-than-expected increase in quarterly deliveries earlier this month.