• LG Energy Solution to supply lithium iron phosphate (LFP) pouch-type batteries to Ampere for five years starting from 2025, total capacity around 39GWh

• Deal marks the company's first large-scale supply of LFP batteries for EVs, expanding product portfolio and penetrating the entry-level market segment

• The LFP Batteries to apply CTP (Cell To Pack) solutions, ensuring enhanced cost competitiveness and safety

SEOUL, South Korea, July 1, 2024 /PRNewswire/ -- LG Energy Solution (KRX: 373220) today announced that it will supply LFP pouch-type EV batteries to Ampere, the EV pure player born from Renault Group, its long-time customer.

The two companies signed the supply agreement at Renault's Paris headquarters in France on July 1, with the attendance of Wonjoon Suh, Executive Vice President and head of Advanced Automotive Battery Division at LG Energy Solution; Seungdon Choi, Executive Vice President and head of Advanced Automotive Battery Development Center at LG Energy Solution; Fran?ois Provost, Chief Procurement, Partnerships and Public Affairs Officer at Renault Group; Gilles Le Borgne, Chief Technology Officer at Renault Group; Josep Maria Recasens, Chief Strategy officer at Renault Group and Chief Operating Officer at Ampere; and Philippe Brunet, SVP of Powertrain and EV Engineering at Ampere.

Under the five-year contract, LG Energy Solution will provide LFP batteries to Ampere from late 2025 through 2030, with a total capacity of approximately 39GWh, enough amount to produce around 590,000 battery electric vehicles.

The batteries will be manufactured in LG Energy Solution's Poland facility, and will power next-generation EV models from Ampere.

"We will provide the best customer value to Ampere through our overwhelming technological prowess and quality competitiveness," said Wonjoon Suh, Executive Vice President and head of Advanced Automotive Battery Division at LG Energy Solution.

"We worked hand in hand with LG Energy Solution to set up an integrated value chain in Europe. Our long-term relationships have enabled us to build this unique solution in terms of technology and competitiveness," said Fran?ois Provost, Chief Procurement, Partnerships and Public Affairs Officer, Renault Group.

• LG Energy Solution's LFP competitiveness acknowledged in Europe, a fierce battlefield for EVs

It's the company's first large-scale supply deal of LFP EV batteries whose market has been dominated by non-Korean manufacturers. The deal also bears significance particularly in Europe which is one of the three largest markets for EVs.