LG Energy Solution shares rose more than 2% in early trading on the 8th, after news that LG Energy Solution will supply $2 trillion won worth of electric-vehicle batteries to Mercedes-Benz.
As of 9:28 a.m. on the 8th, LG Energy Solution stock was up 9,000 won (2.11%) from the previous trading day at 435,000 won on the KOSPI market.
LG Energy Solution said in a filing this morning that it signed a contract with Benz to supply electric-vehicle batteries worth 2.06 trillion won. The deal amounts to 8% of last year's sales (2.56196 trillion won).
The sales and supply regions are North America and Europe, and the contract period is from Mar. 1, 2028 to June 30, 2035.
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