Industry News

LG New Energy to Supply More Car Batteries to Ford

Update time : 2022-07-27 09:39:26

According to Yonhap News Agency, LG Energy Solution announced today that it will gradually expand its supply of power batteries to Ford based on market demand for its pure electric vehicles and commercial vehicles.

LG New Energy will produce batteries for the two electric vehicles from the second half of 2020, while Ford announced late last year that it would more than triple the production of the Mustang Mach-E by 2023. In that case, LG New Energy plans to triple the size of its production line at the Polish battery plant through next year and continue to add more lines thereafter.
LG's statement said the agreement is part of Ford's plan to invest $50 billion in electric vehicle development by 2026 and produce more than 2 million electric vehicles annually. Ford aims to increase the share of electric vehicles in its total sales to more than 50 percent by 2030, the company said.
Ford and CATL have confirmed an agreement for a global strategic partnership that will see the Mustang Mach-E in North America introduced with CATL's lithium iron phosphate batteries starting next year.
In addition to CATL, Ford also has a relationship with LG Energy Solutions and longtime battery partner SK Innovation. As a result, LG Energy Solutions also said it will supply more batteries to U.S. automaker Ford to boost the company's global electric vehicle production.
In a statement on the same day, LG Energy said:- "It plans to double the battery production line allocated to Ford Motor at its Poland plant by 2023 and further expand the line based on demand."
LG Energy has reportedly been supplying batteries to Ford Focus Electric since 2011. Since late 2020, the company has been supplying batteries for Ford's all-electric Mustang Mach-e SUV and E-Transit.

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