LG Energy Solution Secures Battery Supply Deal with Rivian (RIVN)

Nov 08, 2024

South Korean electric vehicle battery manufacturer LG Energy Solution has announced a significant agreement with U.S. electric vehicle maker Rivian (RIVN, Financial). Under this agreement, LG Energy Solution will supply Rivian with advanced 4695 cylindrical batteries over the next five years, totaling 67 gigawatt-hours. These batteries will be produced at LG's facility in Arizona and will be used in Rivian's R2 vehicle model for the North American market. LG Energy Solution's current clients include major automotive brands such as Tesla (TSLA), General Motors (GM), and Hyundai.

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