LG Energy Solution Inks Near 10 Billion Yuan Battery Deal with Mercedes-Benz

Published: Dec 9, 2025 10:56

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[LG Energy Solution Signs Nearly 10 Billion Yuan Battery Supply Contract with Mercedes-Benz] According to Yonhap News Agency, South Korean secondary battery manufacturer LG Energy Solution announced on the 8th that it has signed a contract with Mercedes-Benz Group AG to supply power batteries, with a contract value of 2.06 trillion won (approximately 9.89 billion yuan). This contract amount is equivalent to 8% of LG Energy Solution's total sales last year (25.6196 trillion won). Under the contract, LG Energy Solution will supply power batteries to Mercedes-Benz plants in North America and Europe from March 1, 2028, to June 30, 2035. The contract is speculated to primarily involve power batteries for low and mid-end electric vehicles. The industry expects that, as Chinese battery manufacturers continue to expand their market share in Europe and globally based on price advantages, this contract between LG Energy Solution and Mercedes-Benz is expected to create an opportunity for South Korean battery makers to regain market share and expand their influence.

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