LG Energy Solution to supply Rivian with 4695 battery cells: report
A recent report from South Korea has suggested that LG Energy Solution would be supplying electric truck maker Rivian with 4695 battery cells. The 4695 cells are expected to be used in the Rivian R2, the company's upcoming mass market all-electric crossover.
As noted in a report from Yonhap News, LG Energy Solution is currently focusing on diversifying its products and customers by securing large-scale orders from automakers. These include Mercedes-Benz, Renault, and more recently, Rivian.
LG Energy Solution's Arizona plant in the United States would be supplying Rivian's 4695 cells for the R2, the report claimed. Interestingly enough, the South Korean battery maker noted in late June that it is prioritizing 46-series battery cell production at its $5.5 billion Arizona facility.
As per Yonhap, LG and Rivian's contract involves a total quantity of 67 GWh, which is expected to be supplied over a five-year period. The price for the contract has not been announced, though estimates suggest that the deal is worth at least 8 trillion won ($5.7 billion).
LG Energy Solution is optimistic about its 46 series batteries. As per the South Korean battery maker, the 46 series cells could change the landscape of the electric vehicle market.
"The next-generation 46 series cylindrical batteries are leading the diversification of our product and customer portfolio by consecutively achieving large-scale supply contracts.
"In particular, the 46 series batteries being supplied this time are characterized by the application of LG Energy Solution's unique high-nickel NCMA chemistry (material) that maximizes energy density while ensuring safety," LG noted.
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