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LG Energy Solution signs $4.3 billion battery supply contract
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LG Energy Solution signs $4.3 billion battery supply contract
Jul 29, 2025 6:20 PM

SEOUL, July 30 (Reuters) - South Korean battery maker LG

Energy Solution (LGES) said on Wednesday it had

signed a $4.3 billion contract to supply lithium iron phosphate

(LFP) batteries over three years globally, without identifying

the customer.

The company, whose major customers include Tesla

and General Motors ( GM ), did not say whether the LFP

batteries will be used in vehicles or energy storage systems.

The contract lasts from August 2027 to July 2030.

LGES said the contract includes an option to extend the

contract period by up to seven years, and increase supply volume

depending on discussions with the unidentified customer.

The deal came after South Korea's Samsung Electronics

and Tesla announced a $16.5 billion chip

contract.

(Reporting by Jack Kim and Hyunjoo Jin; Editing by Ed Davies

and Muralikumar Anantharaman)

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