PLANO, TX—LG Energy Solution and Toyota Motor North America Inc. have signed a long-term supply agreement. Starting in 2025, LG’s factory in Holland, MI, will produce lithium-ion battery cells and modules for use in all Toyota vehicles assembled in the United States. LG plans to invest $3 billion to expand its 12-year-old facility and establish new production.
“Our goal is to reduce carbon emissions as much as possible, as fast as possible,” says Tetsuo “Ted” Ogawa, president and CEO of Toyota Motor North America. “Having secure supplies of lithium-ion batteries at scale with a long-term relationship to support [our] multi-pathway approach and growth plans in North America is critical to achieve our manufacturing and carbon reduction plans.”