LG Energy Solution issued a press release today announcing the signing of an electric vehicle battery supply agreement with Toyota Motor North America for use in Toyota pure electric vehicles assembled and produced in the United States.
LG New Energy will deliver 20 GWh of automotive battery modules to Toyota starting in 2025. The modules are composed of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch cells and will be manufactured at LG New Energy’s Michigan factory. Production.
This battery supply agreement can help Toyota expand its pure electric product line. In Toyota’s plan, new pure electric models will be assembled and produced in Kentucky, USA, in 2025 to further promote electrification development. Toyota plans to launch 30 pure electric models under the Toyota and Lexus brands in 2030, with annual production expected to exceed 3.5 million vehicles.
It was previously reported that Toyota plans to increase its annual production capacity of electric vehicles, with an estimated annual production capacity of 190,000 vehicles next year; 600,000 vehicles in 2025; and 1.5 million vehicles in 2026.
Toyota also plans to independently develop and design a new traction battery by 2026, and plans to achieve annual production of 3.5 million vehicles by 2030.
