LG Energy Solution Signs 8GWh EV Battery Deal with Chery

LG Energy Solution Ltd., a South Korean battery manufacturer, has signed a significant six-year deal to supply 8 gigawatt-hours of its next-generation 46-series cylindrical batteries to China's Chery Automobile, enough to power approximately 120,000 electric vehicles. This contract, estimated to be worth around $730 million to $734 million, marks the first time a Korean company will supply such batteries to Chinese electric vehicles, breaking into a market traditionally dominated by domestic firms like CATL and BYD. The 46-series batteries offer substantially higher energy capacity and power output—over five times that of conventional cylindrical cells—and are designed for better energy density, charging efficiency, and cold-temperature performance. The batteries will be integrated into Chery's flagship BEV models, with plans to expand the partnership to additional Chery electric vehicle models. LG Energy Solution's CEO, Kim Dong-myung, highlighted the deal as a crucial step toward global adoption of their advanced battery technology and market leadership. The agreement also reflects LGES's strategic pivot to bolster its presence in the EV sector amid shifting global demand trends.