LG Energy Solution has inked a new battery supply agreement worth 2.06 trillion won (about US$1.4 billion) with Mercedes-Benz, marking the fourth major with German luxury automaker in just two years.
Ultium Cells will upgrade its Spring Hill, Tennessee battery cell manufacturing facility to scale production of low-cost lithium iron phosphate battery cells, building on a $2.3 billion investment announced in 2021.