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to supply Ford’s commercial EVs in Europe","lges-to-supply-fords-commercial-evs-in-europe","article/lges-to-supply-fords-commercial-evs-in-europe",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":648,"featured":51,"reporter":649,"_editable":653,"component":654,"seo_title":553,"categories":655,"visibility":662,"author_company":49,"featured_image":663,"seo_description":648,"author_full_name":49,"author_job_title":49,"formattedDate":669,"formattedArticleDate":670},"3ebdcbd4-6165-4bd4-a888-dbc59f727f30","2024-10-16 00:00",[560,563],{"slug":561,"name":562},"europe","Europe",{"slug":564,"name":565},"lges","LGES",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. 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":577,"content":578},"doc",[579,586,601,606,611,616,623,628,633,638,643],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"LG Energy Solution (LGES) has agreed to supply Ford with 109 gigawatt-hours (GWh) of batteries for electric commercial vans in Europe starting in 2026.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589,591,599],{"text":590,"type":585},"The South Korean battery maker will supply the battery modules from its Polish facility which is expected to have 125 GWh of cell capacity from next year, according to Benchmark’s ",{"text":592,"type":585,"marks":593},"Gigafactory Assessment",[594],{"type":595,"attrs":596},"link",{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":598},"https://www.benchmarkminerals.com/lithium-ion-batteries/capacity-database/gigafactory","url",{"text":600,"type":585},".",{"type":580,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":585},"“With step changes in the EU emission standards coming in 2025, 2030 and 2035, this agreement marks Ford’s intention to ramp up production of their electric vans in Turkey and Romania ahead of the 2030 change,” said George Whitcombe, a research analyst at Rho Motion. ",{"type":580,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":585},"The two companies have also agreed LGES will supply batteries for the Ford Mustang Mach-E from the company’s Michigan facility rather than Poland, to enhance business efficiency and capitalise on Inflation Reduction Act (IRA) tax credits.",{"type":580,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":585},"From 2030, vans must produce no more than 90.6 grams of CO2 per kilometre (g CO2/km), down from the 2025 to 2029 level of 153.9 g CO2/km. From 2035, the EU fleet-wide CO2 emission target for both cars and vans is 0 g CO2/km.",{"type":617,"attrs":618,"content":620},"heading",{"level":619,"textAlign":49},4,[621],{"text":622,"type":585},"How do commercial EVs contribute to battery demand?",{"type":617,"attrs":624,"content":625},{"level":619,"textAlign":49},[626],{"text":627,"type":585},"LGES’ operations in Europe compared to the US",{"type":580,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":585},"The South Korean manufacturer is investing in developing its overseas capacity with projects in the US and China as well as its Polish gigafactory. ",{"type":580,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":585},"LGES has prioritised the US to benefit from the IRA, establishing joint ventures with General Motors, Hyundai, and Honda as well as independent projects in the region.",{"type":580,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":585},"“The IRA means LGES benefits from production tax credits of up to $45 per kilowatt hour for producing cells in the US as well as investment tax credits also on offer. Europe on the other hand is more fragmented as incentives vary across countries which make it a less straightforward investment decision compared to the US,” said Aran Waid, principal analyst at Benchmark.",{"type":580,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":585},"Waid also noted lower energy costs in the US relative to some European countries and strategic partnerships and joint ventures with automakers like General Motors have also influenced LGES’ regional development.","LG Energy Solution (LGES) has agreed to supply Ford with 109 gigawatt-hours (GWh) of batteries for electric commercial vans in Europe starting in 2026. The South Korean battery maker will supply the battery modules from its Polish facility which is expected to have 125 GWh of cell capacity from next year, according to Benchmark’s Gigafactory […]",[650],{"slug":568,"name":569,"content":651},{"job_title":571,"image":652,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3ebdcbd4-6165-4bd4-a888-dbc59f727f30\", \"id\": \"\"}-->","article",[656,659],{"slug":657,"name":658},"batteries","Batteries",{"slug":660,"name":661},"ev","EV","private",{"id":49,"alt":664,"name":665,"focus":665,"title":664,"source":665,"filename":666,"copyright":665,"fieldtype":667,"meta_data":668,"is_external_url":51},"LGES' gigafactory in Wroclaw Poland","","https://a.storyblok.com/f/287943243085208/815651c6c8/bm-lges-poland-wroclaw.jpg","asset",{"alt":664,"title":664,"source":665,"copyright":665},"Oct 16, 2024","16th October 2024",[],[],1792773895881]