SEOUL (Reuters) -South Korea’s LG Energy Solution said on Tuesday it signed a deal to supply electric vehicle batteries to a Mercedes-Benz affiliate in North America and other regions.
The battery maker said in a regulatory filing it would supply 50.5 gigawatt per hour in batteries over 2028-2038, but said it cannot disclose the monetary size of the contract.
The announcement came after major automakers including General Motors and Ford reported weaker sales for the latest quarter with buyers continuing to shy away from purchases on affordability concerns, and Tesla reported a smaller-than-expected rise in quarterly deliveries earlier this month.
(Reporting by Joyce Lee; Editing by Tom Hogue and Christopher Cushing)
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