[LG Energy Solution signs nearly $4.3 billion in LFP battery orders]

Published: Jul 30, 2025 13:08

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[LG Energy Solution Signs Nearly $4.3 Billion in LFP Battery Orders] South Korean battery manufacturer LG Energy Solution announced on July 30 that it had recently secured a lithium iron phosphate (LFP) battery supply project with a contract value of 5.9442 trillion won (approximately $4.3 billion). The contract value is equivalent to 23.2% of the company's total sales for 2024 (25.6 trillion won). The contract was signed on July 29 and will officially take effect from August 1 this year, with a duration of three years. LG Energy Solution stated that, due to considerations for protecting business secrets, it was inappropriate to disclose the contracting party or the details of the contract. The contract includes an additional clause allowing both parties to negotiate an extension of the contract period to seven years and an expansion of the supply, so the contract value and duration may be adjusted in the future.

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