LG Energy Solution And Toyota Sign Long-Term Battery Supply Agreement To Power Electric Vehicles In The U.S.; LG Energy Solution To Supply Automotive Battery Modules At Annual Capacity Of 20GWh Starting From 2025
Portfolio Pulse from Benzinga Newsdesk
LG Energy Solution and Toyota have signed a long-term battery supply agreement. LG Energy Solution will supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025. The modules will be produced in LG Energy Solution's Michigan facility and used to power a new BEV model assembled in North America, at Toyota Motor Manufacturing Kentucky, among others.
October 04, 2023 | 7:06 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Toyota has secured a long-term battery supply agreement with LG Energy Solution, ensuring a steady supply of high-nickel NCMA battery modules for its new BEV model from 2025.
The agreement ensures a steady supply of batteries for Toyota's new BEV model, which is crucial for its production and sales. This could positively impact Toyota's stock in the short term as it shows the company's commitment to the electric vehicle market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100