According to a report submitted to the South Korean regulatory authority, the Financial Supervisory Service, the contract entails the delivery of batteries between March 1, 2028, and June 30, 2035, targeting the markets of Europe and North America.
The South Korean company further noted that the contract’s value represents approximately 8% of the annual sales recorded in 2024, totaling 25.6 trillion won (approximately 15 billion euros).
Analysts mentioned by the Yonhap news agency indicate that the supply is expected to be directed at entry-level and mid-range electric models, as Mercedes-Benz plans to launch 40 new models globally by 2027.
The report highlights that the volume, duration, and other contract conditions may be subject to adjustments following additional discussions with the client.
This agreement complements the two contracts announced on September 3, which foresee the combined supply of 107 gigawatt-hours of batteries from LG Energy Solution to Mercedes-Benz.
