- Two global leaders join forces to drive the future growth of battery electric vehicles in the U.S.
- LG Energy Solution to supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025.
- Modules produced in LG Energy Solution's Michigan facility to be used to power a new BEV model assembled in North America, at Toyota Motor Manufacturing Kentucky, among others.
SEOUL, South Korea and PLANO, Texas, Oct. 4, 2023 /PRNewswire/ -- LG Energy Solution (KRX: 373220) and Toyota Motor North America, Inc. (Toyota) today announced that they 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 innovative power 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 ...