Toyota And LG Energy Establish Long-Term Cooperation For BEV Battery Supply In The US
JAKARTA - Toyota Motor North America is in long-term collaboration with LG Energy Solution for the supply of lithium-ion battery modules used in Toyota battery electric vehicles (BEV).
Based on existing contracts, LG Energy Solution will supply an automotive battery module with an annual capacity of 20 GWh starting in 2025. The battery module, which consists of NCMA bag type cells (nickel, cobalt, manganese, aluminum) containing high nickel, will be produced at the LG Energy Solution Facility in Michigan.
This step was taken to support the expansion of Toyota's BEV line, including other models that will be assembled in Manufacturing Kentucky by 2025. In addition, this collaboration was also carried out to achieve Toyota and Lexus targets to create 30 BEV models globally, by producing 3.5 million BEV until 2030.
"Having a large-scale safe supply of lithium-ion batteries with long-term relationships to support Toyota's multi-path approach and the BEV growth plan in North America, and being an important part of achieving future plans," Ogawa said., President and CEO of Toyota Motor North America, from its official statement, Friday, October 6.
The agreement with Toyota was warmly welcomed by LG, which has proven successful in producing high-quality cells and battery modules on a large scale. That way it can create superior products that can improve customer experience.
"We are very happy to welcome Toyota, which is the best-selling global automaker, as our new customer", said Youngsoo Kwon, CEO of LG Energy Solution.
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He said the agreement also opened up great opportunities to strengthen LG production capacity in North America, bringing more tangible progress towards electrification.
"With our 30 years of experience in the lithium-ion battery field, we will provide innovative power solutions to support Toyota's efforts further in battery electric vehicles," he concluded.