LG Energy Solution Shakes Up the European EV Market with a Multi-Billion Dollar Contract with Renault, Pioneering LFP's Departure from China
0. Introduction LG Energy Solution recently signed an LFP battery supply contract with the French automobile manufacturer Renault, marking a new chapter in the LFP battery market. This contract is a significant achievement as it represents the first large-scale order by a Korean company in the LFP battery market, which has been predominantly led by Chinese firms. Starting from November 2024 until the end of 2030, LG Energy Solution will supply 39 GWh of LFP batteries, enough to produce approximately 590,000 electric vehicles. This showcases LG Energy Solution's technological prowess and competitiveness in the European market, drawing significant attention to their future endeavors ( #1 )( #2 ).
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