LG Energy Solution signs MoU with indiGOtech to supply 46-series cylindrical battery cells for U.S. commercial electric vans
LG Energy Solution signed a nonbinding MoU with U.S. commercial EV startup indiGOtech to explore supplying 46-series NCM cylindrical battery cells from 2027 to 2030 for its Flow Ride and Flow Cargo vans.
- 2027-2030
- 1.5 times year on year as of Q2
- 46-series NCM cylindrical
What Happened
LG Energy Solution said it has signed a nonbinding memorandum of understanding with indiGOtech, a U.S. commercial electric vehicle startup, to explore battery supply and technological collaboration. Under the MoU, the partners will work toward a final agreement for LG Energy Solution to supply 46-series NCM cylindrical battery cells from 2027 to 2030 for indiGOtech's upcoming Flow Ride and Flow Cargo EVs. indiGOtech is headquartered in Woburn, Massachusetts, and specializes in electrifying commercial van platforms for the North American market. The company is developing an ecosystem that integrates vehicles, charging infrastructure and digital services.
LG Energy Solution announces in Seoul that it has signed a nonbinding MoU with indiGOtech on battery supply and technological collaboration.
Target window for LG Energy Solution to supply 46-series NCM cylindrical battery cells for indiGOtech's Flow Ride and Flow Cargo electric vans.
- Work toward a final agreement on 46-series NCM cylindrical cell supply from 2027 to 2030
- Support joint business development through vehicle-battery integration and performance verification
- Review opportunities to extend driving range
- Review opportunities to reduce charging times
“Urban ride hail and delivery must electrify and automate at scale, but today's electric vehicles are not designed for purpose, and are severely limited by the local charging infrastructure - that's why vast majority of rides and deliveries are still driven by gas vehicles. Working toward a long-term relationship with LG Energy Solution brings together advanced battery technology for durable economic advantage for vehicles, drivers and fleet operators.”
“Based on LG Energy Solution's 46-series NCM cylindrical battery technology that boasts high energy density and rapid charging capabilities, we will closely collaborate with indiGOtech, which is successfully building the Transportation-as-a-Service (TaaS) ecosystem in the U.S. Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the U.S., including logistics, last-mile delivery, and ride-hailing.”
1.5 timesyear on year
LG Energy Solution's cylindrical battery shipments rose 1.5 times year on year as of the second quarter, supported by stable mass production and expanded deliveries of its 46-series batteries.
LG Energy Solution said it is strengthening its competitiveness by securing additional customers for its 46-series cylindrical batteries. That push is where the indiGOtech MoU fits: the two companies will work toward a final supply agreement for cells going into commercial vans. Oh said the partnership is a way for LG Energy Solution to enter the diverse U.S. commercial vehicle market, including logistics, last-mile delivery and ride-hailing. For now the agreement is nonbinding, meaning the partners have only committed to exploring supply and technical collaboration.
Previously from LG Energy Solution
LG Energy Solution has been building out its battery operations in the United States. In September it locked in a 10-year deal to buy 8,000 metric tonnes of U.S.-produced lithium carbonate per year from Smackover Lithium, securing a local source of material for its battery plants. In August the company began initial production at its $2 billion, 2.8 million-square-foot battery manufacturing complex in Lansing, Michigan, taking full proprietary control of the facility.
- LG Energy Solution Locks In 10-Year Supply of U.S. Lithium Carbonate from Smackover Lithium
- LG Energy Solution commences operations at $2 billion Lansing battery gigafactory
Background drawn from MotorClaw's earlier coverage of LG Energy Solution's official releases.
Why this matters
The deal would give LG Energy Solution a route into the U.S. commercial vehicle market it wants to enter - logistics, last-mile delivery and ride-hailing. indiGOtech, based in Woburn, Massachusetts, would get cells for the Flow Ride and Flow Cargo vans it is developing, affecting fleet operators and drivers if they reach production. The MoU is nonbinding, so no supply is guaranteed yet.
Terms in This Story
- memorandum of understanding (MoU)
- A preliminary agreement that records what two parties intend to do together. It is usually nonbinding, so it is not a final contract.
- NCM
- A lithium-ion battery chemistry whose cathode uses nickel, cobalt and manganese.
- Transportation-as-a-Service (TaaS)
- A model in which transport - rides, deliveries or fleet mobility - is sold as a service rather than as a vehicle purchase.
- cylindrical battery cell
- A battery cell built in a cylindrical can, one of the common formats used to assemble electric-vehicle battery packs.
Summarised from the linked release; details can be imperfect — always verify against the original source.