LG Energy, Toyota sign long-term EV battery supply agreement

LG Energy, Toyota sign long-term EV battery supply agreement

LG Energy Solution to supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025.

LG Energy Solution and Toyota Motor North America have signed a supply agreement for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs) that will be assembled in the United States.

Under the contract, LG Energy Solution will supply automotive battery modules at an annual capacity of 20GWh starting from 2025. The battery modules, consisting of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch-type cells, will be manufactured in LG Energy Solution’s Michigan facility, the companies said.

The solutions will support Toyota’s expanding line of BEVs, part of its multi-pathway product strategy, including a new BEV model that will be assembled at Toyota Motor Manufacturing Kentucky in 2025. They will also help further Toyota’s vehicle electrification initiatives, as it aspires to offer 30 BEV models globally across its Toyota and Lexus brand nameplates and produce up to 3.5 million BEVs annually by 2030.

To fulfill the supply agreement, LG Energy Solution will invest KRW 4 trillion (approximately $3 billion) in its Michigan facility to establish new production lines for battery cells and modules exclusively for Toyota, with completion slated for 2025, the companies said. Initially, the battery modules will go to Toyota Motor Manufacturing Kentucky to be assembled into battery packs and equipped onto BEVs.

The recent deal represents LG Energy Solution’s largest single supply agreement secured outside of joint venture agreements. The company now supplies its batteries to all top five global automakers, the companies note. The company has eight battery manufacturing facilities currently operating or under construction in North America.

You May Also Like

Hexagon Agility expands CNG fuel system manufacturing plant

The company says a green future for trucking is close, and what’s coming next could put fears over a lack of CNG power to bed.

Hexagon-combo

Setting foot into the Hexagon Agility facility in Salisbury, NC, you’re met with several truck components that send the same message: A back-of-cab CNG holding system (dubbed the ProCab) and a bench made from a decommissioned CNG cylinder. As you move farther in, artful photographs of children blowing on dandelions adorn meeting room walls, symbolizing a wish to watch future families grow up in a clean and healthy world. It’s a theme that’s growing across trucking industry narratives, but many decarbonization roads could lead there. Touring the Hexagon Agility plant and talking with executives reveals one road that could mean a clean energy future is attainable for Class 8 trucks, and sooner than you might think.

DTNA introduces BEV dealer certification program

DTNA said the program covers over 75 specific criteria in four key areas including safety, charging infrastructure, dealership infrastructure and training.

DTNA-BEV-certification-program
Nikola Corporation names new CFO

Thomas Okray joins the company’s executive team as chief financial officer.

Nikola-executive-appointment
InductEV forms strategic partnerships for wireless charging deployment

InductEV said each company will provide mechanical and electrical engineering services to help with the deployment of its wireless charging system.

BorgWarner-Santroll-eMotor-Handshake
Canoo receives incentives from Oklahoma for hiring milestone

Oklahoma is now home to over 20% of Canoo’s total workforce.

Canoo-OKC-Factory-1400

Other Posts

Can you jumpstart an EV?

First thing’s first: Find the LV battery, which could be anywhere in the vehicle.

bendpakEVgarage12Vjump
StoreDot tests battery cells to perform in cold conditions

Recent tests revealed that StoreDot’s silicon battery cells reach 80% capacity when charged at -10°C (14°F) with standard charging speed.

StoreDot-extreme-fast-charging-EV-batteries
Mullen road tests solid-state polymer battery pack

The initial test results met or exceeded all requirements targeted for the first drive cycles for energy usage and driving range.

Mullen-battery-pack-testing
Fisker signs four dealership partners in the U.S.

Dealers joining the Dealer Partnership program are the Mills Automotive Group, Ourisman Fisker, Classic Fisker and Long Island Fisker.

Classic-Fisker