LG Energy Solution Signs Agreement with Ford for Electric Vans
LG Energy Solution Partners with Ford for Electric Vans
In a significant development, LG Energy Solution has announced a partnership with Ford Motor Company to supply innovative battery modules for Ford's electric commercial vans. This collaboration focuses on enhancing the electric vehicle segment in Europe.
Battery Supply Agreements with Ford
LG Energy Solution will provide a remarkable 109 GWh of batteries to Ford as part of this agreement, which is set to begin production in 2026 and will last for four to six years. This agreement aligns with the growing trend of electrifying commercial vehicles to meet the increasing demand for environmentally friendly transportation solutions.
Production to Optimize Efficiency
In addition to supplying batteries for the commercial vans, LG Energy Solution will also produce batteries for the Ford Mustang Mach-E at its Michigan facility, scheduled for production in 2025. This strategic decision aims to enhance operational efficiency and leverage favorable market conditions, such as benefits from tax incentives.
CEO's Commitment to Innovation
David Kim, CEO of LG Energy Solution, expressed optimism regarding this partnership, stating, "These agreements attest to our experience and expertise in powering commercial vehicles with innovative battery technologies designed to handle extreme user environments." His vision reflects the company's commitment to leveraging local production to secure a competitive edge in the evolving European market.
About LG Energy Solution
LG Energy Solution, originally part of LG Chem, has established itself as a leading global manufacturer of lithium-ion batteries. With three decades of experience, they lead in battery-related patents and innovate extensively in battery technology. Their commitment to sustainability aims for carbon neutrality across their value chain by 2050 while fostering an inclusive corporate culture. This ethos aligns with their broad network of manufacturing facilities that serve the automotive industry globally.
Frequently Asked Questions
What is the purpose of LG Energy Solution's agreement with Ford?
The agreement is intended to supply batteries for electric versions of Ford's commercial vans in Europe, enhancing the electric vehicle market.
How much battery capacity will LG Energy Solution provide?
LG Energy Solution will supply a total of 109 GWh of battery capacity to Ford over the term of the agreement.
When will production begin for these batteries?
Battery production is expected to start in 2026, lasting for four to six years.
Where will the batteries for the Mustang Mach-E be produced?
Batteries for the Ford Mustang Mach-E will be produced at LG Energy Solution's Michigan facility in 2025.
What does LG Energy Solution aim for concerning sustainability?
The company aims to achieve carbon neutrality across its value chain by 2050 while promoting sustainable practices and technologies.
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