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Toyota sources NCMA batteries from LG Solutions
The Japanese automaker Toyota is accelerating electrification and will soon produce a new electric car in the USA with lithium-ion batteries from LG Energy Solution. Both companies have agreed on the delivery of battery modules with an annual capacity of 20 GWh starting in 2025. The modules, consisting of high-nickel NCMA cells (Nickel, Cobalt, Manganese, Aluminum), will be manufactured at LG Energy Solution's plant in Michigan.
The battery specialist is investing approximately 2.85 billion euros in its production facility to exclusively build new production lines for battery cells and modules for Toyota. The modules will first go to Toyota's US plant in Kentucky, where they will be assembled into battery packs and installed in electric vehicles. The agreement marks the largest single supply contract for LG Energy Solution outside of joint ventures.
Under its Toyota and Lexus brands, the automaker, which entered battery-electric mobility late, aims to offer a total of 30 electric models worldwide by 2030 and increase their sales to around 3.5 million units.
"Toyota wants to reduce CO2 emissions as quickly as possible. A secure large-scale supply of lithium-ion batteries is just as crucial for this as a long-term partnership to implement the growth plans for electric vehicles in North America," explains Tetsuo Ogawa, President and CEO of Toyota Motor North America.
They aim to combine the capabilities of LG Energy Solution in the production of high-quality battery cells and modules on a large scale with Toyota's advanced technologies. The company currently supplies its batteries to all five of the world's leading automakers and operates or is constructing eight battery production facilities in North America alone.
"We are delighted to have acquired Toyota, the world's top-selling automaker, as a new customer. With our 30 years of experience in lithium-ion batteries, we will offer innovative energy solutions to support Toyota's journey in battery-powered electric vehicles," believes Youngsoo Kwon, CEO of LG Energy Solution.
This is also a great opportunity to strengthen production capacities in North America and thus advance electrification in the region.
LG Energy Solution, a subsidiary of LG Chem, is a world-leading manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With three decades of experience in battery technology and extensive research and development, the company, with over 25,000 patents, is the world's leading patent holder in the battery sector. Its global network, spanning North America, Europe, Asia, and Australia, includes battery production facilities established through joint ventures with major automakers such as General Motors, Stellantis, the Hyundai Motor Group, and Honda Motor Co. Ltd.
Translated automatically from German.
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