Rivian, an electric vehicle manufacturer based in the United States, and LG Energy Solution have announced a major new supply arrangement. As part of this agreement, LG Energy Solution will supply Rivian with 67GWh of its next-generation 4695 cylindrical batteries over the course of the following five years.
With dimensions of 46 mm in diameter and 95 mm in height, the 4695 cylindrical battery provides over six times the capacity of the 2170 cylindrical batteries that were previously in use. It is a desirable option for the quickly expanding electric car market because of its larger size, which enables higher energy density, more space efficiency, and enhanced safety.
Within the first year, LG Energy Solution’s plant in Arizona will start producing these cutting-edge batteries, which will then be shipped to Rivian’s facility in Normal, Illinois. Rivian’s R2 model, aimed at the North American market, will be powered by the batteries.
“This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its clientele within the cylindrical battery segment,” said David Kim, CEO of LG Energy Solution, underscoring the significance of this collaboration. The strategy objective of LG Energy Solution to maintain its leadership in the battery business and improve its market position in the United States is also supported by this partnership.
