LG Energy Solution Ltd., South Korea’s foremost battery manufacturer, has announced a significant agreement with China’s Chery Automobile Co. for the supply of advanced cylindrical electric vehicle (EV) batteries.
Under the terms of the multi-year partnership, LG Energy Solution will deliver a total of 8 gigawatt-hours (GWh) of its next-generation 46-series cylindrical batteries over a six-year period. The company noted that this capacity would be sufficient to power approximately 120,000 electric vehicles.
While the financial details of the agreement remain undisclosed, industry sources estimate the contract to be valued at approximately 1 trillion South Korean won, equivalent to around US$730 million.
The supply of batteries is expected to commence in early 2026, with Chery planning to integrate the technology into its flagship electric models. The 46-series battery cells, developed using LG Energy Solution’s proprietary nickel-cobalt-manganese (NCM) chemistry, are recognised for their high energy density and production efficiency. These next-generation cylindrical cells reportedly offer more than five times the energy output of conventional battery types and demonstrate superior performance in low-temperature environments compared to lithium iron phosphate (LFP) counterparts.
“This deal marks a pivotal step in scaling up global adoption of our new 46-series batteries and securing a dominant market leadership,” said Kim Dong-myung, Chief Executive Officer of LG Energy Solution.
The collaboration is expected to expand further, with both companies aiming to apply the high-performance battery technology across a broader range of EV models within the Chery Group.
-Yonhap
