Seoul, Dec. 8 -- LG Energy Solution has signed a deal worth around 2 trillion won (USD 1.4 billion) with Mercedes-Benz Group AG to supply electric vehicle (EV) batteries, deepening the partnership between the South Korean battery maker and the German automaker. The agreement, valued at 2.06 trillion won, marks the fourth major contract between the two companies in just two years, as per a report by Pulse, the English service of Maeil Business News Korea.

According to the report on Monday, the battery supply deal will run from March 1, 2028, to June 30, 2035, covering deliveries to North America and Europe. The company said the contract value and duration could change depending on further discussions with the customer.

The new agreement ...