SEOUL: LG Energy Solution Ltd. (LGES), South Korea's leading battery manufacturer, announced on Tuesday that it has secured significant contracts to supply Ford Motor Co. with batteries for its commercial electric vehicles (EVs). According to Yonhap News Agency, LGES has inked two separate deals with Ford. The first agreement details the supply of 34 GWh of batteries slated for the period from 2026 to 2030, while the second contract commits to providing 75 GWh of batteries from 2027 to 2032. These batteries will be manufactured at LGES's facility in Poland beginning in 2026. LGES's Chief Executive, Kim Dong-myung, highlighted the significance of these agreements in a statement, noting, 'The deals with Ford show LG Energy Solution's advanced technology and product quality in the all-electric commercial vehicle battery market.' He expressed confidence that these contracts would further solidify LGES's position in the global EV market. The contracts are valued at a minimum of 13 trillion won (approximately US $9.5 billion), a valuation based on last year's market prices for battery cells. This substantial financial figure underscores the scale and importance of the agreement for LGES. The demand for commercial electric vehicles is on the rise in Europe, a trend supported by projections from LMC Automotive, a global research firm. LMC's forecasts suggest that by 2030, half of all commercial vehicles in Europe will be powered by batteries. This growing market presents significant opportunities for battery manufacturers like LGES. LGES operates a total of seven battery cell plants globally, with locations in South Korea, Poland, China, Indonesia, and three in the United States. The company's expanding production capacity is well-aligned with the increasing demand for electric vehicle batteries, particularly in the commercial sector.
Trump Avoids North Korea in U.N. Speech, Focuses on Iran and Cuba
September 22, 2026