LG Energy Solution Ltd., a prominent battery manufacturer, has announced a deal to supply its cylindrical batteries to Isuzu Motors Ltd., Japan’s leading commercial vehicle and diesel engine maker. The agreement, which will run until the end of 2026, was revealed in a recent regulatory filing by LG. Although specific details about the size and value of the deal were not disclosed, industry experts estimate it to be worth at least 1 trillion won ($748 million).
This collaboration between LG Energy Solution and Isuzu Motors is an extension of their existing partnership, as LG has been supplying batteries to Isuzu since June of last year. The batteries will be used in Isuzu’s electrified light-duty truck, the Elf, as part of Isuzu’s truck electrification project. LG Energy Solution, an affiliate of LG Group in South Korea, specializes in cylindrical batteries and has been producing them on a large scale since 1999. In addition to Isuzu, LG supplies batteries to more than 10 prominent global automakers, including General Motors, Ford Motor, and Tesla.
This partnership highlights Japan’s increasing reliance on Korean battery suppliers. While Panasonic remains a major battery supplier for Tesla in Japan, other Japanese automakers are diversifying their supply chains by engaging with companies like LG. LG Energy Solution is a popular choice due to its reputation for high-quality batteries and reliable performance. With a wide client base spanning multiple continents, LG Energy Solution continues to expand its influence and market presence in the global battery industry.
Overall, this collaboration between LG Energy Solution and Isuzu Motors represents an important milestone in the transition to electrification in the automotive industry. As more automakers seek reliable battery partners, LG’s expertise and technological advancements play a crucial role in shaping the future of electric vehicles worldwide.
The source of the article is from the blog zaman.co.at