LGES signs five-year contract with Renault to supply LFP batteries

LGES has signed a five-year contract with Renault to supply it with LFP batteries with a total capacity of about 39 GWh from the end of 2025 to 2030 to power about 590,000 electric vehicles (BEVs). This is LGES's first large-scale supply deal for LFP batteries and may indicate that the Korean battery company is a suitable alternative to its Chinese counterparts. LGES claims that it will offer competitive prices for its LFP batteries.