By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The Auto Magazine
  • Home
  • Auto Shows
    Auto ShowsShow More
    Maserati enthrals at FuoriConcorso with GT2 Stradale and MCXtrema
    May 14, 2025
    Leapmotor presents its range at Automobile Barcelona, Spain
    May 14, 2025
    Alfa Romeo sporting glory dominates “Fuori Concorso”
    May 13, 2025
    Market Art Fair Stockholm and BMW Sweden present Gregor Hildebrandt as artist for BMW Art Commission 2025
    May 13, 2025
    Driving Trade Forward: AfCFTA, AGOA,BRICS and the Tariffs – All On The Menu At Automechanika CEO Breakfast
    May 9, 2025
  • Bikes
    BikesShow More
    Desmo450 MX: Production of the first Ducati Motocross bike begins
    May 28, 2025
    25YM Honda NC750X
    May 13, 2025
    BMW Motorrad presents the new BMW R 1300 RS
    May 2, 2025
    BMW Motorrad presents the new BMW R 1300 RT
    April 30, 2025
    Honda NC750X Named Winner in 2025 Red Dot Design Award
    April 10, 2025
  • News
    NewsShow More
    Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
    May 29, 2025
    Mazda Production and Sales Results for April 2025
    May 29, 2025
    Nissan production, sales, and exports for April 2025
    May 29, 2025
    Honda Production, Sales and Export Results for April, 2025
    May 29, 2025
    Škoda Auto marks 55 years since production of the Skopak began in Pakistan
    May 29, 2025
  • Concepts
    ConceptsShow More
    FIAT unveils the manifesto Grande Panda 4×4
    May 20, 2025
    Renault 4 Savane 4×4 Concept makes its global debut at Roland-Garros 2025
    May 16, 2025
    Hyundai Motor and Plus Unveil Concept for Autonomous Hydrogen Freight Ecosystem at ACT Expo 202
    May 2, 2025
    Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line
    April 5, 2025
    Kia and LG Electronics Partner to Showcase New PBV Concepts for Work and Play
    April 4, 2025
  • Interviews
    InterviewsShow More
    Kosmas “Dudie” Mamaloukos – The Formidable Racing Talent
    May 15, 2025
    Hi-Range Safari City
    Hi-Range Safari City – The Premier outfitter for 4×4 customization
    May 15, 2025
    BEHIND THE SCENES: ARCHIE RUTHERFORD ON WHAT IT TAKES TO BRING THE W2RC TO SOUTH AFRICA
    May 9, 2025
    Europe and China’s automotive future in a shifting global order
    May 5, 2025
    Sourcing Guide Right-Hand Drive American SUVs and Pickup Trucks in Africa
    April 29, 2025
  • EVs
    EVsShow More
    SEAT S.A. moves towards electric car production in Martorell
    May 29, 2025
    Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
    May 29, 2025
    All-New Nissan MICRA EV debuts ahead of European launch
    May 28, 2025
    BMW Group and Solid Power are testing all-solid-state battery cells in a BMW i7
    May 20, 2025
    Toyota Debuts Stylish, Powerful 2026 C-HR Battery Electric Vehicle
    May 18, 2025
  • Motosport
    MotosportShow More
    43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
    May 29, 2025
    Lærke Rønn, Alexia Danielsson, Rasmus Vendelbo, Porsche Sprint Challenge Scandinavia, 2025, Porsche AG
    The schoolgirl who’s just won her debut GT race
    May 28, 2025
    Porsche with new qualifying record and ongoing points streak ahead of China
    May 28, 2025
    Nissan Formula E Team looking to reinforce championship lead in Shanghai
    May 28, 2025
    Opel Mokka GSE Rally: A New Star in Electric Rallying
    May 28, 2025
  • Trucks & Buses
    Trucks & BusesShow More
    MAN development team for autonomous driving is ‘Engineering Team of the Year’
    May 29, 2025
    Scania to start deliveries of new electric buses to northern Sweden
    May 29, 2025
    From left to right: Jens Böther, Regional Council; Nikolas Wenzel, Managing Director of MOIN; Claudia Kalisch, Mayor of Lüneburg; Alex Meier, Depot Manager; Nils Richert, Daimler Buses
    Daimler Buses builds a completely new electric bus depot for a customer for the first time
    May 28, 2025
    600 km range and superfast charging – meet Volvo’s new electric truck
    May 20, 2025
    Vandijck Transport tests the eActros 600 on a long-haul route of over 1,500 kilometers
    Vandijck Transport tests the eActros 600 
    May 18, 2025
  • Reviews
    ReviewsShow More
    GR Supra pushes performance limits with A90 Final Edition and Lightweight EVO
    May 28, 2025
    The new BMW M2 CS
    May 28, 2025
    Defender upgraded: The unstoppable 4×4 is now even more distinctive 
    May 28, 2025
    From vision to Veyron: the evolution of a Bugatti icon
    May 17, 2025
    The new Mercedes-Maybach SL Monogram Series
    May 13, 2025
  • Tech
    TechShow More
    VNC Automotive Partners with P3 to Enhance the SPARQ OS Platform
    May 29, 2025
    Artificial intelligence: Audi boosts production efficiency
    May 28, 2025
    Greater efficiency and productivity with artificial intelligence – generative AI in BMW Group Purchasing
    May 19, 2025
    Aston Martin debuts Apple CarPlay Ultra for iPhone users
    May 16, 2025
    Mercedes-Benz customers in Germany can now purchase and pay for e-Vignettes directly from their vehicle
    May 15, 2025
Hot News
SEAT S.A. moves towards electric car production in Martorell
Toyota Mobility Foundation announces five finalists for $3 million Venice Sustainable Cities Challenge
43rd Rally Due Valli: Lancia Ignites Verona with a High-Tension Challenge
Polestar 3 wins Best EV SUV and Luxury Car of the Year awards
Mazda Production and Sales Results for April 2025
Motosport

Rally de Portugal Day 2: TOYOTA GAZOO Racing drivers in the fight after marathon Friday

Latest News

Volkswagen brand delivers 4.87 million vehicles worldwide in 2023

Motosport

Lamborghini claims first-ever European Le Mans Series title in 4 Hours of Portimão

Motosport

TOYOTA GAZOO Racing with three Hypercar rookies in Bahrain

Font ResizerAa
The Auto MagazineThe Auto Magazine
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Search
  • Home
  • Auto Shows
  • Bikes
  • News
  • Concepts
  • Interviews
  • EVs
  • Motosport
  • Trucks & Buses
  • Reviews
  • Tech
Follow US
Crafted by Intellegere Media. © 2024 The Auto Magazine. All rights reserved.
Electric VehiclesLatest News

LG Energy Solution and Toyota Sign Long-term Battery Supply Agreement

Itumeleng Garebatshabe
Last updated: October 5, 2023 14:26
By Itumeleng Garebatshabe
632 Views
4 Min Read
Share
4 Min Read
SHARE

  • 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.

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.

- Advertisement -
Ad image

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 by 2030.

“At Toyota, our goal is to reduce carbon emissions as much as possible, as fast as possible,” said Tetsuo “Ted” Ogawa, president and CEO of Toyota Motor North America. “Having secure supplies of lithium-ion batteries at scale with a long-term relationship to support Toyota’s multi-pathway approach and growth plans for BEVs in North America is critical to achieve our manufacturing and carbon reduction plans. Working with LG Energy Solution, we are excited to be able to offer products that will provide the performance and quality our customers expect.”   

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

The agreement brings together LG Energy Solution’s proven capabilities in manufacturing top quality battery cells and modules at scale, and Toyota’s advanced technologies in battery packs to create a product using LG Energy Solution’s innovative power solution which optimizes battery system performance, providing peace of mind and further enhancing the BEV customer experience. LG Energy Solution continues to enhance battery safety, including with respect to its thermal management for its high-nickel NCMA batteries.

“We’re excited to have Toyota, the best-selling global automaker, as our new customer.  With our 30 years of experience in lithium-ion batteries, we will provide innovative power solutions to support Toyota’s push further into battery electric vehicles,” said Youngsoo Kwon, CEO of LG Energy Solution. “The agreement also presents another big opportunity for us to strengthen our production capacity in North America, thereby bringing more real-life, large-scale progress toward electrification in the region.”

The landmark 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. Based on its market leadership, the company has eight battery manufacturing facilities currently operating or under construction in North America, and continues to expand both its production network and supply chain in the region.

TAGGED:battery electric vehiclesLG Energy Solutionlithium-ion batteryToyota Motor North America

Sign Up For Daily Newsletter

Stay Updated! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn VKontakte Telegram Email Copy Link Print
Share
ByItumeleng Garebatshabe
Editor
Follow:
Itumeleng is the Managing Editor of The Auto Magazine. He is a tech and car enthusiast

Follow US

FacebookLike
XFollow
InstagramFollow
YoutubeSubscribe
TiktokFollow
TelegramFollow
Google NewsFollow
LinkedInFollow
- Advertisement -
Ad imageAd image

You Might Also Like

Latest News

Toyota Prius Wins 2024 North American Car of the Year Award

By Itumeleng Garebatshabe
January 10, 2024
Latest News

Toyota Motor North America Reports 2023 U.S. Sales Results

By Itumeleng Garebatshabe
January 4, 2024
Auto Shows

Toyota Expands Commitment to Hydrogen Society with Fleet, Infrastructure and Next-Gen System Debut

By Itumeleng Garebatshabe
April 30, 2025
Latest NewsAuto Shows

Isuzu Announces World Premiere of “EVision Cycle Concept,”

By Itumeleng Garebatshabe
November 1, 2023
Electric Vehicles

SUBARU TO ADOPT TESLA NORTH AMERICAN CHARGING STANDARD ON NORTH AMERICAN BEVs

By Itumeleng Garebatshabe
November 1, 2023
Latest News

Toyota Motor North America Reports 2024 U.S. Sales Results

By Itumeleng Garebatshabe
January 3, 2025

The Auto Magazine

  • Advertise
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Bikes
  • Electric Vehicles
  • Trucks & Buses
  • Auto Shows
  • Latest News
  • Motosport

Made by Intellegere Media. All rights reserved. 2023

Don't not sell my personal information
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc.

Zero spam, Unsubscribe at any time.
adbanner