17:47 15 October 2024
LGES will produce batteries for Ford in Poland
LG Energy Solution (LGES) has signed two agreements with Ford Motor for the supply of electric vehicle batteries, according to Korea Times. The first contract covers 34 GWh of battery supply from 2026 to 2030, while the second involves 75 GWh from 2027 to 2032. These batteries will be produced at LGES's factory in Poland starting in 2026. The financial terms were not disclosed.
The agreements are crucial for LGES, which recently faced challenges in the EV market, including a projected 20% revenue decline and a 39% drop in operating profit in Q3 2023. LGES has also secured contracts with Renault and Mercedes-Benz for future battery supplies.
(pb.pl)
