LG Energy Solution Secures Major Battery Supply Deal With Rivian For R2 Model

In a significant development in the electric vehicle (EV) industry, LG Energy Solution has announced a major multi-year supply agreement with Rivian to provide next-generation 4695 cylindrical batteries.

Multi-Year Battery Supply Partnership

In detail, the deal, which spans over five years, will see LG Energy Solution deliver a total of 67GWh of its advanced 4695 cylindrical batteries to power Rivian’s R2 model for the North American EV market.

The 4695 cylindrical battery, with a diameter of 46mm and a height of 95mm, offers several key advantages over the existing 2170 cylindrical cells. This larger format provides over six times the capacity, enabling higher energy density, improved space efficiency, and enhanced safety – features that have garnered considerable attention from the EV industry.

“Due to the dynamic nature of the current EV market, an increasing number of global automakers are demonstrating a strong preference for a diverse range of battery form factors,” stated David Kim, CEO of LG Energy Solution. “This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its client base within the cylindrical battery segment.”

Production and Delivery Timeline

The first production of these batteries will take place at LG Energy Solution’s plant in Arizona, with the cells eventually being delivered to Rivian’s factory in Normal, Illinois. This collaboration is expected to further strengthen LG Energy Solution’s footprint in the rapidly growing U.S. EV market.

Moreover, the partnership also aligns with LG Energy Solution’s broader strategy to respond to the Inflation Reduction Act (IRA) by developing and supplying competitive battery cells promptly while expanding into new markets.

Read More: Rivian’s Latest $3K Discount Help Gas And Hybrid Owners Make The Switch To EV

A Major Step Forward for EV Adoption

With this landmark agreement, it spotlights the rapid evolution of the EV industry and the critical role that battery suppliers like LG Energy Solution play in enabling the widespread adoption of EVs.

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