LG Energy Solution's cylindrical batteries to power Bear Robotics' service and logistics robots starting from next year

In addition to exclusive battery supply agreement,companies will collaborate on technology

Partnership with Bear Robotics demonstrates LG Energy Solution's commitment to expanding into new business areas,and its reputation for outstanding product safety

SEOUL,South Korea,Nov. 18,2024 --LG Energy Solution today announced that it has signed a Memorandum of Understanding (MoU) with Silicon Valley-based mobility innovator Bear Robotics to become its exclusive supplier of cylindrical battery cells. The two companies will also work together on technological innovation.

The MoU confirms LG Energy Solution as the sole supplier of cylindrical batteries (2170) for Bear Robotics' flagship robots,such as Servi Plus and Carti 100,starting next year. The agreement also promises cooperation on new technologies and fostering a strong partnership to reinforce both parties' competitive edge in the burgeoning global robot market.

Bear Robotics,founded in 2017 by CEO John Ha,is a leading AI-powered robotics company renowned for pioneering the world's first autonomous serving robots. With operations spanning 20 countries,Bear Robotics continues to redefine automation in public and industrial spaces.

The partnership with Bear Robotics is a testament to LG Energy Solution's outstanding reputation for product safety. With most service and logistics robots operating in high-traffic public spaces,an uncompromising level of safety is required to ensure the well-being of people and the smooth operation of these automated systems. As a leader in safe battery solutions,LG Energy Solution applies differentiated materials and technologies such as high-quality NCMA cathode materials and reinforced ceramic-coated separators.

As with its partnership with Bear Robotics,LG Energy Solution plans to actively pursue new and innovative opportunities in the global robotics market,as well as in other applications beyond electric vehicles. As announced in October with its corporate vision,"Empower Every Possibility," LG Energy Solution aims to balance its business portfolio by expanding into new areas,particularly those with high growth potential,such as Urban Air Mobility (UAM),vessels and robotics.

About LG Energy Solution

LG Energy Solution (KRX: 373220),a split-off from LG Chem,is a leading global manufacturer of lithium-ion batteries for electric vehicles,mobility,IT,and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D),the company is the top battery-related patent holder in the world with over 58,000 patents. Its robust global network,which spans North America,Europe,and Asia,includes battery manufacturing facilities established through joint ventures with major automakers. Committed to building sustainable battery ecosystem,LG Energy Solution aims to achieve carbon neutrality across its value chain by 2050,while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations,visit https://news.lgensol.com.