Overview
- A regulatory filing shows supply to North American and European markets from March 1, 2028 through June 30, 2035.
- Industry sources say the batteries are expected to support mid-priced and entry models in Mercedes-Benz’s EV lineup.
- The agreement adds to a 50.5 GWh deal last year and two September contracts totaling about 107 GWh for premium models using 46 mm cylindrical cells.
- Analysts view the sourcing shift as part of efforts to reduce reliance on Chinese suppliers as policy and geopolitical pressures reshape supply chains.
- LG Energy Solution said terms may change, and the contract value equals roughly 8 percent of its 2024 sales.