LG Energy signs multi-billion-dollar LFP battery deal with Renault

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LG Energy signs multi-billion-dollar LFP battery deal with Renault - Korea Economic Daily

Quick Summary:

LG Energy Solution Ltd., the world’s second-largest battery maker, has clinched a multi-billion-dollar deal to supply LFP batteries for low-end electric vehicles to Renault Group’s EV unit Ampere.

The CEO, also known in the West by his English name David Kim, said: “Starting with the European market, we will keep expanding our supply of automotive LFP batteries.”LG is also an active battery player in the US, where it operates its own battery plants and a joint venture, Ultium Cells LLC, with General Motors.

Our long-term relationships have enabled us to build this unique solution in terms of technology and competitiveness.” KOREA’S FIRST MEGA-DEAL BEATING LFP SUPER POWER CHINALG said the latest deal represents its and Korea’s first large-scale LFP battery supply deal in Europe, one of the world’s fastest-growing EV markets.