Rivian locks in 5-year battery deal with LG Energy Solution
November 12, 2024
Supply Chain Dive - Larry Avila, Trucking Editor
The U.S.-based electric vehicle maker’s agreement shores up its domestic supply chain.
Dive Brief:
Rivian has signed a five-year battery supply agreement with LG Energy Solution Arizona, according to an announcement Friday.
Rivian expects the deal will help trim sourcing and production costs, further reduce battery weight, enhance energy storage, and improve battery pack assembly processing by 45%, according to a shareholder letter.
The next-generation cylindrical battery produced by the LG Energy Solution subsidiary will be used in Rivian’s R2 model, set to hit the North American market in early 2026.