LG Energy Solution Wins $1.6 Billion DTE Battery Deal as Shares Jump 16.56%
Updated
Updated · CNBC · May 28
LG Energy Solution Wins $1.6 Billion DTE Battery Deal as Shares Jump 16.56%
7 articles · Updated · CNBC · May 28
$1.6 billion is the reported value of LG Energy Solution Vertech’s deal to supply battery cells for DTE Energy’s eight storage projects in Michigan.
Those projects will add 1.5 gigawatts, or 6 gigawatt-hours, of battery storage, letting excess electricity be stored and dispatched to customers when needed.
LG Energy Solution shares rose as much as 16.56% in Seoul after the agreement underscored demand for U.S.-made energy storage batteries.
The win fits LG’s broader U.S. expansion in energy storage systems, where it says its North American network should exceed 50GWh of battery production capacity by year-end.
LG Energy is building a U.S. battery empire. Can its local-for-local strategy outpace rising tariffs and growing competition in the energy race?
As Michigan bets billions on battery storage, can it overcome local opposition and policy shifts that threaten its clean energy future?
With AI data centers straining the grid, will massive battery projects like this be enough to keep the lights on and power bills down?
DTE and LG Energy Solution’s $1.6 Billion, 6 GWh Battery Storage Agreement: Transforming Michigan’s Grid and Economy
Overview
On May 28, 2026, DTE Energy and LG Energy Solution announced a landmark $1.6 billion agreement to supply 6 GWh of battery energy storage systems for deployment across eight projects in Michigan over two years. These batteries, produced mainly at LG Energy Solution’s Holland, Michigan factory—the first in North America to mass-produce ESS batteries—will support major initiatives like Oracle’s new open AI data center in Saline Township. This deal highlights Michigan’s growing role in clean energy, strengthens local manufacturing, and supports the state’s efforts to meet rising power demands from advanced technology sectors.