LG Energy Solution ends $6.5B EV battery deal with Ford
Photo: Reuters
South Korea’s LG Energy Solution announced on Wednesday that it has terminated a $6.5 billion electric vehicle (EV) battery supply deal with Ford Motor Co.
According to a regulatory filing, the termination came after Ford notified LG that it would halt production of certain EV models due to policy changes and shifts in the EV market outlook, News.Az reports, citing Reuters.
The move underscores increasing challenges in the global EV supply chain and highlights LG Energy Solution’s efforts to protect intellectual property amid evolving EV demand trends.
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