LG Energy Solution Ltd (LGES), South Korea's top battery manufacturer, announced on Tuesday that it has secured contracts to supply batteries for Ford Motor's commercial vehicles . The agreements involve the delivery of 34 GWh of batteries from 2026 to 2030 and 75 GWh from 2027 to 2032. Production will take place at LGES's plant in Poland , starting in 2026.
LGES estimates the contracts to be worth at least 13 trillion won (approximately USD 9.5 billion), based on last year's battery cell market prices. The European commercial EV market is expanding rapidly, with forecasts suggesting that half of commercial vehicles in the region will be battery-powered by 2030, according to LMC Automotive .
Currently, LGES operates seven battery cell plants globally, including locations in South Korea, Poland, China, Indonesia, and three in the United States. Recently, the company signed a memorandum of understanding (MOU) with Analog Devices , Inc (ADI) to enhance its EV battery management solutions. Under this MOU, ADI will provide high-performance battery management integrated circuits for LGES's systems over the next two years.
LGES acknowledges a stagnation phase in global EV markets, referred to as the "chasm," which typically precedes broader EV adoption. The company aims to strengthen its position as a battery supplier , despite the current slowdown in EV demand.
LGES estimates the contracts to be worth at least 13 trillion won (approximately USD 9.5 billion), based on last year's battery cell market prices. The European commercial EV market is expanding rapidly, with forecasts suggesting that half of commercial vehicles in the region will be battery-powered by 2030, according to LMC Automotive .
Currently, LGES operates seven battery cell plants globally, including locations in South Korea, Poland, China, Indonesia, and three in the United States. Recently, the company signed a memorandum of understanding (MOU) with Analog Devices , Inc (ADI) to enhance its EV battery management solutions. Under this MOU, ADI will provide high-performance battery management integrated circuits for LGES's systems over the next two years.
LGES acknowledges a stagnation phase in global EV markets, referred to as the "chasm," which typically precedes broader EV adoption. The company aims to strengthen its position as a battery supplier , despite the current slowdown in EV demand.
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