LG Energy Solution (LGES) has signed a six-year contract to supply 8 gigawatt-hours of 46-series cylindrical batteries to O&J Automotive Netherlands, a subsidiary of China’s Chery Automobile. This is the first time that a Korean company has successfully secured mass sales of cylindrical batteries to a Chinese carmaker. The agreement is seen as a testament to the competitiveness of LGES’ products, as Chinese automakers have traditionally preferred domestically made batteries. Chery has mainly partnered with CATL, although it owns its own battery brand, Kunpeng, which is developing all-solid-state battery technology. Notably, Chery selected LGES’ ternary batteries, made with nickel, cobalt and manganese, for their higher energy density — opting against the more affordable lithium iron phosphate (LFP) batteries mostly produced by Chinese firms. “Irreplaceable and differentiated customer value, built on unmatched technological prowess, is the only way to overcome the downturn in the electric vehicle (EV) market and seize the upcoming super-cycle,” LGES CEO Kim Dong-myung said. “Our recent
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