News, 4 September 2025
South Korean battery maker LG Energy Solution (LGES) announced in a regulatory filing that it has signed two contracts to supply a total of 107 GWh of batteries to Mercedes-Benz AG and an affiliated company over the next decade. The agreements, estimated at around KRW 15 trillion (US$ 10.7 billion) based on current market prices, follow an earlier October 2024 deal for 50 GWh of batteries.
As part of the agreements, Mercedes-Benz is set to procure 32 GWh of batteries from 2028 to 2035, while its affiliate will take 75 GWh between 2029 and 2037. The orders will utilize LGES’s new 46-series cylindrical NMC cells, with enough capacity to power nearly 1.5 million mid-range electric vehicles.
LGES clarified that final pricing is yet to be determined and could change subject to negotiations. Industry experts view the deal as a strong endorsement of South Korea’s advanced battery technology, with LGES outpacing Chinese rivals and further strengthening its global position following the launch of its next-generation cylindrical batteries.
About LG Energy solution
LG Energy Solution (LGES), headquartered in Seoul, South Korea, is one of the world’s leading battery manufacturers, specializing in advanced lithium-ion batteries for electric vehicles (EVs), energy storage systems, and consumer electronics. A spinoff from LG Chem in 2020, LGES supplies major global automakers including Tesla, Hyundai, GM, and Mercedes-Benz.
