LG Energy will supply batteries to US company Bear Robotics

SEOUL SEOUL: South Korea’s leading battery maker LG Energy Solution Ltd (LGES) on Monday said it has signed a preliminary agreement with US-based Bear Robotics to become the sole supplier of cylindrical batteries.LGES has signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company under which it will supply its cylindrical battery cells for Bear Robotics’ flagship robots such as Servi Plus and Carti 100 from next year, the company said in a statement.

The agreement also includes collaboration on new technologies and fostering a strong partnership to strengthen the competitive edge of both parties in the growing global robot market, the company said.LGES aims to diversify its business portfolio by expanding into new areas, especially in areas with high growth potential such as urban air mobility, ships and robotics, reports Yonhap news agency.

Last week, LG Energy Solution struck a deal to supply electric vehicle batteries to US automotive maker Rivian. Under the deal, LGES will provide Rivian with its advanced 4695 cylindrical batteries with a total capacity of 67 gigawatt hours over five years, according to the company.

The batteries will be manufactured at the company’s U.S. plant in Arizona and used in Rivian’s R2 sport utility vehicles, LGES said. The deal with Rivian follows the Korean company’s similar battery-supply contracts with global carmakers including Mercedes-Benz and Ford. LGES said their 4695 cylindrical battery cells are gaining popularity due to their large capacity, high

energy efficiency and enhanced safety features amid growing demand for cylindrical batteries.

“Due to the dynamic nature of the current EV market, a growing number of global automakers are exhibiting strong preference for a diverse range of battery form factors,” LG Energy Solution CEO David Kim said. “This large-scale order for 4695 batteries from Rivian is an important milestone for LG Energy Solution in expanding its customer base in the cylindrical battery segment.”