Korean battery maker LG Energy Solution Ltd. said Friday it has agreed with a U.S. company to terminate a supply contract signed in 2024 by mutual consent. In a regulatory filing, LG Energy Solution said it has canceled the supply deal worth 3.9 trillion won ($2.69 billion) signed with U.S.-based battery pack producer Freudenberg Battery Power System (FBPS) LLC. LG Energy Solution said the termination came as FBPS decided to pull out from the battery industry. LG Energy Solution signed the $2.7 billion agreement with the U.S. company in April and had already implemented $110 million of the deal. Last week, LG Energy Solution announced the cancellation of a 9.6 trillion-won battery supply order from Ford Motor Co. signed last year. Following the latest regulatory filing, the combined amount of contracts terminated this month for LG Energy Solution reached 13.5 trillion won, which accounts for around half of the company's annual sales of 25.6 trillion won posted in 2024. The South Korean battery maker, however, said the terminations are expected to have a limited impact on its financial heal