- LG Energy Solution will supply battery modules comprised of NCMA-based pouch cells
LG Energy Solution has recently inked a long-term agreement with Toyota to supply 20GWh of electric vehicle batteries per year.
The South Korean battery manufacturer intends to invest 4 trillion won in its Michigan facility through 2025 to establish a dedicated battery cell and modular production line, as a supplier for the prominent Japanese automaker.
LG Energy Solution will deliver battery modules composed of NCMA-based pouch cells, which are later assembled into packs at Toyota’s Kentucky plant.
This partnership with the Japanese automotive giant means that LG Energy Solution has now successfully secured contracts with all five major car brands in the United States for electric vehicle (EV) batteries, including Honda, General Motors, Hyundai Motor, and Stellantis.
Toyota had previously announced plans to introduce 30 EV models by 2030, aiming to achieve annual sales of 3.5 million units.