Toyota on Wednesday announced a “long-term” battery supply agreement with LG Energy Solution, which the automaker claims will secure batteries for U.S. EV production.
Under the contract, LG will supply battery modules at an annual capacity of 20 gigawatt-hours starting in 2025, according to a Toyota press release. Comprised of nickel-manganese-cobalt-aluminum (NMCA) pouch-type cells, the modules will be manufactured at LG’s Michigan factory, which will receive a roughly $3 billion investment to add new production lines for the Toyota contract.
LG Energy Solution pouch-type battery cell
The batteries will power U.S.-made Toyota EVs, including a new electric model that will be manufactured at Toyota’s Kentucky factory starting in 2025. Toyota confirmed the new EV, a three-row electric SUV, just earlier this year.
Prior to that, Toyota hinted of future U.S.-built EVs with an
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