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[BUSINESS] · Canada, United States, South Korea · 5 sources

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Part of situation: LG Energy Solution North American expansion (2 clusters)

LG Energy Solution secures 240,000 tons of Canadian lithium concentrate

LG Energy Solution Elevra Lithium lithium concentrate battery supply chain energy storage systems

LG Energy Solution has entered into a multi-year binding offtake agreement with Elevra Lithium to secure 240,000 dry metric tonnes of spodumene concentrate. The supply, which is expected to begin later this year, will be sourced from the operational North American Lithium (NAL) project in Quebec, Canada, over a four-year period.

The secured lithium concentrate is estimated to be convertible into approximately 30,000 tons of lithium hydroxide, providing enough material to produce batteries for roughly 700,000 high-performance electric vehicles. This agreement is intended to strengthen LG Energy Solution’s regional raw material supply chain in North America, particularly to meet the rising demand for energy storage systems (ESS).

To support this growth, the company plans to expand its North American LFP battery production capacity for ESS to over 50GWh by the end of this year. The company utilizes several facilities in the region, including NextStar Energy in Windsor, Canada, and various joint ventures in the United States.

Separately, LG Energy Solution reported preliminary third-quarter results, including a revenue of 9.6434 trillion won and an operating profit of 756 billion won. When excluding 416.9 billion won in North American production subsidies (AMPC), the company's operating profit stood at 339.1 billion won.

Entities

Elevra Lithium · LG Energy Solution · Lucas Dow · NextStar Energy · North American Lithium · Quebec

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

LG엔솔, 캐나다산 리튬 정광 24만톤 확보···북미 공급망 강화 [www.energy-news.co.kr]
LG엔솔 캐나다 리튬 정광 확보…전기차 70만대 물량 - 미코 [meeco.kr]
LG Energy Solution Secures Multi-Year Supply Of Canadian Spodumene Concentrate From Elevra [ohsem.me]
LG Energy Solution signs Elevra lithium deal - Best Magazine [www.bestmag.co.uk]
LG엔솔, 보조금 빼도 흑자…캐나다 리튬 확보로 북미 공급망 강화 [www.newstomato.com]