LG Energy Solution has announced its signed supply agreements with Ford Motor Company to power the electrified models of Ford’s commercial vans in Europe. Under these contracts, LG Energy Solution is expected to supply Ford with 109 GWh of batteries for its electric commercial vans beginning in 2026. The contracts have durations ranging from four to six years.
The two companies have also agreed that batteries for the current Ford Mustang Mach-E will be produced at LG Energy Solution’s Michigan facility in 2025, shifting production from Poland. This strategic move aims to enhance business efficiency and capitalize on competitive market conditions, such as the Inflation Reduction Act (IRA) tax credits in the United States.
David Kim, CEO of LG Energy Solution, stated, “These agreements attest to our experience and expertise in powering commercial vehicles with innovative battery technologies designed to handle extreme user environments. Capitalizing on our local production capacity, we will secure leadership in the European market and deliver unmatched values to our customers through advanced battery technologies that effectively address diverse needs.”
Source: LG Energy Solution