That leads automakers to favor batteries with stronger outputs and longer life, creating a profitable and stable market for cell manufacturers with long-term and higher-value contracts, industry sources in Seoul said.“It is difficult for the battery industry to enter the electric commercial vehicle market with high profitability as it requires much better specs than those for (electric) passenger cars,” said an LG Energy official.“The Ford deal indicates LG Energy’s products have secured competitiveness in performance and quality to meet customers’ tough requests.”By Hyung-Kyu Kim, Woo-Sub Kim and Jin-Woin Kimkhk@hankyung.com Jongwoo Cheon edited this article.
TO MANUFACTURE IN POLANDLG Energy plans to produce the batteries for Ford’s electric commercial vehicles at its plant in Wrocław, Poland, which has been producing cells for the US automaker’s electric sport utility vehicle Mustang Mach-E.“The major battery supply deal with Ford is expected to enhance competitiveness in winning orders and significantly contribute to improving production efficiency at the Polish factory,” said LG Energy.
Electric commercial vehicles were forecast to make up about 50% of automobiles transporting goods or paying passengers such as trucks and vans in Europe by 2030, LG Energy quoted an industry research firm LMC Automotive as saying.“Capitalizing on our local production capacity, we will secure leadership in the European market and deliver unmatched values to our customers through advanced battery technologies that effectively address diverse needs,” said LG Energy Chief Executive Kim Dong-myung in a statement.
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