To reduce its reliance on EVs, LG Energy said it plans to more than double sales by 2028 by expanding businesses such as energy storage systems.

LG Energy Solution sealed a 10-year battery supply deal with Mercedes-Benz as the Korean battery maker struggles to defend its profitability amid faltering EV demand in global markets.

South Korea's LG Energy Solution (LGES) said on Tuesday it signed a deal to supply electric vehicle (EV) batteries to a Mercedes-Benz affiliate in North America and other regions, sending its shares soaring.

LG Energy Solution has presented its first official corporate strategy "Empower Every Possibility." LGES aims to expand its business beyond battery production to the entire value chain and reduce its dependence on the electric vehicle sector.

LG Energy Solution has secured a major long-term contract to supply electric vehicle batteries to a key affiliate of Mercedes-Benz. The deal, announced Tuesday, primarily targets North America and other key markets,

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.

LG Energy Solution Signs Major EV Battery Deal with Mercedes-Benz South Koreas LG Energy Solution has signed a major agreement to supply electric vehicle (EV) batteries to a Mercedes-Benz affiliate in North America

LG Energy Solution on Monday vowed to double its annual sales by 2028 based on expanding and diversifying battery businesses outside of electric vehicles while continuing to secure technological leadership in the EV battery sector.