LG Energy Solution lands major EV battery deal in Q1

May 1 (UPI) -- South Korea's LG Energy Solution said Thursday that it has secured a large-sized battery deal for electric vehicles with an undisclosed European customer during the first quarter of this year.

The Seoul-based company told a conference call that it has booked new orders exceeding 100 GWh for its 46-series cylindrical batteries during the first three months of this year. The contract is estimated to be worth around $6.8 billion.

LG Energy Solution did not identify the client, but the batteries would reportedly be supplied for the next-generation electric cars of BMW.

"Our 46-series batteries have recently secured large-scale orders from a European OEM for use in premium models, supported by our global operational capabilities and technological competitiveness," LG Energy Solution Vice President Noh In-hak said.

"Taking into account not just North America but also growing demand from European customers, we are actively reviewing the possibility of expanding production capacity in Poland over the long term," he added.

LG Energy Solution rolls out rechargeable batteries at its Wroclaw factory in Poland to provide them to its European customers.

Meanwhile, LG Energy Solution said that the company recorded $4.4 billion in first-quarter sales, down 2.5% from a year ago, with an operating loss of $141 million.

As weaker-than-expected demand for electric vehicles has weighed on LG Energy Solution in recent years, the company vowed to strengthen its energy storage system (ESS) business.

The company said that the ESS segment accounted for around 25% of its revenue last year and the figure would further rise to the mid-30% range this year.

The share price of LG Energy Solution went down 2.64% on the Seoul bourse on Friday.

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This story was originally published May 1, 2026 at 6:31 PM.