In a significant move that strengthens the automotive industry's commitment to electric vehicle production, Mercedes-Benz has entered into a major partnership with LG Energy Solution. The companies have announced an $11 billion deal for EV battery supply, marking one of the largest agreements of its kind in the automotive sector [1].
The partnership comes at a crucial time when Mercedes-Benz is demonstrating significant advances in EV technology. The German automaker recently showcased the capabilities of their technology with an EQS prototype equipped with solid-state batteries, achieving an impressive 749-mile range on a single charge during a drive from Stuttgart to Malmö [2].
This development aligns with the broader industry push toward more affordable and efficient electric vehicles. The European Union has shown strong support for initiatives to make EVs more accessible, backing industry plans for a new class of small, affordable cars [3].
The timing of this agreement is particularly strategic, as other manufacturers face challenges in their EV production plans. Notably, Hyundai has recently experienced delays with its EV battery plant construction [4].
The new partnership between Mercedes-Benz and LG Energy Solution represents a significant step forward in securing the supply chain for electric vehicle production, particularly as industry leaders like Renault's new boss emphasize the importance of reducing EV prices in Europe [5].
- Mercedes-Benz, LG Energy strike $11B EV battery supply deal - Automotive Dive
- Solid-state Mercedes EQS drives 749 miles without charging stop
- Industry plans for new small, affordable car class backed by EU
- Hyundai is now delaying its EV battery plant that was raided by ICE
- New Renault boss: Europe needs to focus on cutting EV prices
