LG Chem Signs 3.8 Trillion Won Cathode Material Supply Deal with U.S. Company for EV Batteries

LG Chem announced on November 13 that it has signed a mid- to long-term supply contract worth 3.762 trillion won for cathode materials for electric vehicle batteries with a U.S. client.

The size of this contract amounts to 7.69% of the company’s total sales. The contract period runs from November 15, 2025, to July 31, 2029.

LG Chem stated, "The supply amount may fluctuate depending on changes in the prices of key raw materials and exchange rate fluctuations," adding, "The identity of the counterparty will be disclosed after the confidentiality period for business reasons."

LG Chem has an annual cathode production capacity of 150,000 tons in South Korea and China. The company is also building a cathode material plant with an annual capacity of 60,000 tons in Tennessee, United States.