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lines","lg-energy-solution-to-supply-toyota-20-gwh-of-batteries-from-michigan-with-new-production-lines","article/lg-energy-solution-to-supply-toyota-20-gwh-of-batteries-from-michigan-with-new-production-lines",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":683,"featured":50,"reporter":684,"_editable":688,"component":689,"seo_title":543,"categories":690,"visibility":697,"author_company":49,"featured_image":698,"seo_description":683,"author_full_name":49,"author_job_title":49,"formattedDate":702,"formattedArticleDate":703},"f5c2e959-b517-4e3d-a416-b0a0a1d37007","2023-10-06 00:00",[550,553,556,559],{"slug":551,"name":552},"lges","LGES",{"slug":554,"name":555},"north-america","North America",{"slug":557,"name":558},"toyota","Toyota",{"slug":560,"name":561},"usa","USA",[563],{"slug":564,"name":565,"content":566},"matthew-bird","Matthew Bird",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Senior Editor - Supply Chains & Data 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He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"content":574},"doc",[575,590,595,600,605,610,615,620,627,640,645,650,663,674],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579,588],{"text":580,"type":581,"marks":582},"LG Energy Solution","text",[583],{"type":584,"attrs":585},"link",{"href":586,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/us-planned-lfp-battery-production-capacity-soars-past-europe-with-lges-and-gotion-plants","url",{"text":589,"type":581}," will supply Toyota with 20 gigawatt-hours of batteries from its gigafactory in Michigan. This is the Korean battery maker’s largest single supply deal outside of its joint ventures.",{"type":576,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":581},"The nickel, cobalt, manganese, aluminium (NCMA) lithium ion pouch cell battery modules will be sent to Toyota in Kentucky where they will be turned into packs before being used in the assembly of Toyota’s US-made electric vehicles.",{"type":576,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":581},"To meet this increased demand, LGES will invest KRW 4 trillion (~ $3 billion) to build new production lines at the Michigan facility dedicated to Toyota.",{"type":576,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":581},"“The supply agreement represents a significant order for LGES, so much so that they are prepared to boost investment and upgrade infrastructure in Michigan,” Evan Hartley, an analyst at Benchmark, said.",{"type":576,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":581},"In March last year, the company announced an investment of $1.7 billion to increase the capacity of the Holland, Michigan gigafactory from 5 GWh to 25 GWh.",{"type":576,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":581},"This new investment for production lines dedicated to Toyota will further increase the capacity of the gigafactory to 40 GWh, as confirmed by Benchmark’s contacts at the company.",{"type":576,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":581},"Construction of the new lines is expected to be complete by 2025 when the supply deal is due to commence.",{"type":621,"attrs":622,"content":624},"heading",{"level":623,"textAlign":49},4,[625],{"text":626,"type":581},"LGES’ automaker relations",{"type":576,"attrs":628,"content":629},{"textAlign":49},[630,632,638],{"text":631,"type":581},"Of the ",{"text":633,"type":581,"marks":634},"eight gigafactories LGES",[635],{"type":584,"attrs":636},{"href":637,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/lges-expands-north-america-footprint-with-canada-and-arizona-gigafactories",{"text":639,"type":581}," operates in, or has planned for, North America, six of them are through a joint venture with an automaker.",{"type":576,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":581},"LGES’ Holland, Michigan gigafactory is one of the two operated or planned by the company not to be through a joint venture. However, this latest deal highlights how closely the company works with automakers.",{"type":576,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":581},"“LGES continues to maintain strong links with leading legacy automakers in North America, ensuring it will be left with very little leftover, unutilised capacity across its large cell production portfolio,” Hartley said.",{"type":576,"attrs":651,"content":652},{"textAlign":49},[653,655,661],{"text":654,"type":581},"In June this year, LGES struck a deal with ",{"text":656,"type":581,"marks":657},"Hyundai to build a joint 30 GWh battery plant",[658],{"type":584,"attrs":659},{"href":660,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/hyundai-announces-second-us-battery-jv-with-4-3-billion-lges-gigafactory",{"text":662,"type":581}," in Georgia for $4.3 billion, and announced an additional $2 billion in August. It also has several more gigafactories planned with automakers: three with GM in the US, one with Honda in Ohio, and a Canadian gigafactory with Stellantis.",{"type":576,"attrs":664,"content":665},{"textAlign":49},[666,672],{"text":667,"type":581,"marks":668},"Partnering up with automakers is seen as a wider trend in North America",[669],{"type":584,"attrs":670},{"href":671,"uuid":49,"anchor":49,"target":49,"linktype":587},"https://source.benchmarkminerals.com/article/three-quarters-of-north-american-gigafactory-2030-pipeline-capacity-associated-with-automakers",{"text":673,"type":581},". 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