LG Chem wins 3.76 tln-won EV cathode material supply deal from US
Virtual view of LG Chem’s exhibition booth at K 2025 in Germany / Courtesy of LG Chem
LG Chem, Korea's leading chemical company, said Thursday it has won a major electric vehicle (EV) battery cathode material supply deal from the United States.
The contract is valued at 3.76 trillion won ($2.57 billion) and covers the period from Saturday through July 31, 2029, the company said in a regulatory filing.
It did not disclose the buyer, citing confidentiality. The contract marks one of the largest such deals for the company despite a temporary slowdown in global EV demand.
LG Chem currently has an annual cathode production capacity of 150,000 tons across Korea, China and other locations, and is building a new 60,000-ton capacity facility in the U.S. state of Tennessee.