Under the agreement, signed at Renault's headquarters in Paris on Monday (local time), LG will supply about 39GWh of battery cells, enough to power 590,000 electric vehicles, for five years from late 2025 to 2030.
LG became the first Korean company to secure a contract for automotive LFP batteries, a market currently dominated by Chinese companies.
The company plans to produce the cells at its Poland factory, implementing an innovative cell-to-pack (CTP) process for pouch batteries, which is expected to enhance energy density and reduce manufacturing costs.
"This contract with Renault, our longest-standing customer in Europe, once again recognizes LG Energy Solution's unparalleled product competitiveness and differentiated customer value," said Kim Dong-myung, CEO of LG Energy Solution.
