LG Energy Solution to supply EV batteries to Mercedes-Benz subsidiary in North America By Reuters

SEOUL (Reuters) – South Korea’s LG Energy Solution said on Tuesday it had signed an agreement to supply electric vehicle batteries to a subsidiary of Mercedes-Benz ( OTC: ) in North America and other regions.

The battery maker said in a regulatory filing that it would supply 50.5 gigawatt hours in batteries between 2028 and 2038, but said it could not disclose the monetary size of the contract.

The announcement came after major automakers, including General Motors (NYSE: ) and Ford (NYSE: 🙂 reported a lower-than-expected increase in quarterly shipments earlier this month.