South Korean electric vehicle (EV) battery manufacturer LG Energy Solution Ltd (LGES) revealed it has signed a deal to supply battery cells to the Chinese state-owned automaker Chery Automobile Company.
LGES confirmed that it has agreed to supply Chery with 8 gigawatt-hours (GWh) of its 46-series cylindrical battery cells over a period of six years from 2026, enough to power over 120,000 battery electric vehicles (BEVs). The value of the contract was not disclosed, but it is estimated to be worth over KRW 1 trillion (US$ 734 million).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
LGES’ newly-developed 46-series cylindrical batteries are larger and have a higher power output than its existing 2170-series batteries, and will be fitted to Chery’s flagship BEV models. The nickel-cobalt-manganese (NCM) 46-series cells also offer higher energy density and better charging efficiency than many batteries on the market today.
The two companies have also indicated that they plan to expand their partnership to include additional Chery BEV models. LGES’ CEO, Kim Dong-myung, told reporters “this deal marks a pivotal step in scaling up global adoption of our new 46-series batteries and securing a dominant market leadership.”
