Seoul
LG Energy Solution (LGES), South Korea’s leading battery maker, announced on Friday that it has secured a five-year contract to supply electric vehicle (EV) batteries to US automaker Rivian.
Under the agreement, LGES will provide Rivian with its advanced 4695 cylindrical batteries, totaling 67 gigawatt hours over the next five years. The batteries will be produced at LGES’s U.S. plant in Arizona and will power Rivian’s upcoming R2 sport utility vehicles. The financial terms of the deal were not disclosed.
This latest partnership builds on LGES’s growing portfolio of contracts with major global automakers, including Mercedes-Benz and Ford. The company’s 4695 cylindrical batteries are gaining traction in the EV market due to their larger capacity, improved energy efficiency, and better safety features, which make them increasingly popular among manufacturers.
David Kim, CEO of LG Energy Solution, commented, “The rising demand for cylindrical batteries is driving automakers to diversify their battery options. This large-scale order from Rivian marks a significant milestone in expanding our presence in the cylindrical battery segment.”
As the demand for EVs continues to rise, LGES’s role as a leading supplier of advanced batteries positions it as a key player in the global automotive industry’s shift toward electrification.
