We know that giant automotive companies are trying to step into the electric vehicle world. Stepping up a gear in this regard Toyota and finally LG with a battery agreement signed. According to the contract, LG will take part in the battery production of some of Toyota’s factories.
$3 billion battery agreement from LG and Toyota
Toyota Motor Corporation has signed a major agreement for lithium-ion batteries from LG Energy Solution for its electric cars. Under the terms of the agreement, LG will expand production in the US. 3 billion dollars investment will make.
The additional capacity provided by LG will allow Toyota to supply battery cells and modules to other automotive factories in the United States starting from 2025. According to the agreement, Toyota will buy from LG More than 250 thousand electric vehicles per year enough to power 20 gigawatt-hour battery will provide.
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LG’s batteries will be assembled into packages at Toyota’s various facilities and will be available worldwide by 2030. 3.5 million vehicle production will enable you to achieve your goals.
The deal marks a major partnership for Toyota, which is gearing up its electrification plans. Japanese manufacturer by 2030 30 different electric cars model It is necessary to remind what you want to offer. For LG, the deal allowed it to expand its customer base in the US to include five major automakers.
On the other hand, we reported in recent months that Toyota was working on a battery technology for the range problem. The solid-state battery, which can offer a range of 1199 kilometers and be fully charged in 10 minutes, will simplify the production process of both solid-state and liquid-based batteries.