Author: Nathan Reed

Nathan Reed is a battery industry business journalist at EVMagz.com, reporting on investment trends, gigafactory expansion, supply chain strategy, pricing dynamics, and corporate developments across the global battery sector. His coverage focuses on how manufacturers, raw material suppliers, and technology firms are scaling production to meet rising demand from the electric vehicle and energy storage markets.

Battery

LG Energy Solution Secures New $1.4 Billion Battery Deal with Mercedes-Benz

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LG Energy Solution (LGES) has secured a new electric vehicle (EV) battery supply contract with Mercedes-Benz Group AG valued at approximately two trillion won ($\text{€}1.39$ billion / US$1.4 billion), marking the fourth significant supply agreement between the two companies in less than two years. According to a regulatory filing by the South Korean battery maker on Monday, the new contract covers the supply of batteries to Mercedes-Benz for its North American and European markets. The supply period is slated to run for seven years, from March 1, 2028, to June 30, 2035. LGES noted in the filing that the contract…

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