LG Chem and German Volkswagen signed a 7 trillion won contract for the supply of electric vehicle battery packs. This is the largest ever battery pack supply contract between a single company.
It is reported that LG Chem has recently won a battery supply contract for Volkswagen's "MEB (Modular Electric Drive) electric vehicle project. It is reported that LG Chem finally defeated CATL from China.
Volkswagen unveiled the MEB project at the Paris Motor Show held in October last year and announced that it would "convert 100% to electric vehicles." First, the goal of launching more than 30 electric vehicles will be completed by 2025.
With this supply contract, LG Chem has almost seized the entire platform of Volkswagen's electric vehicles, which is of great significance from this point of view. Volkswagen's MEB project first built a car frame centered on the battery, and based on this model covered different car bodies. That is to say, although the contract size is 7 trillion won for the time being, it is likely that additional orders will be added depending on the success of the project.
Based on last year's shipments, among the top five electric vehicle battery companies, BYD, CATL and other Chinese companies occupy 4 of them. LG Chem ranked sixth. A person in charge of the domestic battery industry said, "This means that compared with the price competitiveness of Chinese companies, LG Chem's technological level has been more recognized."