LG Energy Solution has announced a supply agreement with Ford Motor Company to provide batteries for Ford’s electric commercial vans in Europe.
The deal involves a total supply of 109 GWh of batteries, set to commence in 2026, with contract durations ranging from four to six years. Financial details were not disclosed.
Additionally, the companies revealed that batteries for the Ford Mustang Mach-E will be produced at LG Energy Solution’s Michigan facility starting in 2025, shifting production from Poland to take advantage of business efficiencies and incentives like the U.S. Inflation Reduction Act (IRA) tax credits.
David Kim, CEO of LG Energy Solution, emphasized the company’s expertise in powering commercial vehicles, saying, “These agreements demonstrate our leadership in battery technology, allowing us to meet diverse customer needs in extreme environments and secure a strong position in the European market.”