On the evening of August 6, Jiangsu Lopal Tech Co., Ltd. ("Lopal Tech") issued an announcement stating that it has signed two framework agreements—covering sales and procurement—with LG Energy Solution, Ltd. ("LGES"). The two parties will collaborate in areas including the supply of lithium iron phosphate (LFP) materials, R&D testing, and related services.
Under the sales framework, designated member companies of Lopal Tech will supply products and related services to the LG Energy Solution Group between January 1, 2026, and December 31, 2028. The product scope includes cathode active materials for LFP batteries used in electric vehicles (EVs) and energy storage systems (ESS), as well as related research and development, testing, processing, and supply services.
Concurrently, designated member companies of LG Energy Solution will supply LGES products and offer related services to Lopal Tech during the same period, including—but not limited to—LFP material R&D.
According to the announcement, from 2026 to 2028, LG Energy Solution Group's annual transaction cap for purchasing Lopal products under the sales agreement is set at RMB 9 billion per year, reaching a cumulative three-year total of up to RMB 27 billion. Meanwhile, Lopal Tech's annual transaction cap for procuring LGES products is set at RMB 6 billion per year. Together, the total combined scale of cooperation between the two sides reaches RMB 45 billion over the three-year period.
Lopal Tech noted that signing the framework agreements with LG Energy Solution will help secure stable sales channels and supply sources for products from both sides, bolster supply chain resilience, and ensure dependable off-take for Lopal’s production capacity through LGES's strong procurement power. Furthermore, the company expects this partnership to yield additional overseas orders, thereby strengthening its competitive edge in the global LFP cathode material market.
Source：EnergyTrend