LG Energy Solution Partners with Indigo Tech to Discuss 46-Series Supply

Discussions Underway to Apply 46-Series to Next-Generation Commercial Vehicles (2027-2030)
Technical Collaboration to Enhance Driving Range and Reduce Charging Times
Expanding 46-Series Supply Base in North America

LG Energy Solution is targeting the North American electric commercial vehicle market with its 46-series cylindrical batteries at the forefront.

Kim Nakjin, Senior Vice President of Product Planning and Strategy at LG Energy Solution's Small Battery Division, and Will Grellin, CEO of Indigo Tech, are posing for a commemorative photo after signing a strategic Memorandum of Understanding (MOU) for the supply and technical cooperation of 46 series batteries for North American electric commercial vehicles. LG Energy Solution.

On October 1, LG Energy Solution announced that it has signed a strategic memorandum of understanding (MOU) with the U.S. electric commercial vehicle startup Indigo Tech.

The two companies are discussing the priority application of LG Energy Solution's 46-series cylindrical battery cells to Indigo Tech's next-generation electric commercial vehicles, including the "Flow Ride" and "Flow Cargo" models currently under development. The supply period will run from 2027 to 2030.

In addition to battery supply, the companies will pursue technical cooperation to improve both vehicle and battery performance, including extending driving range and reducing charging times.

Founded in 2010, Indigo Tech is developing electric commercial vehicles for logistics, delivery, and ride-hailing services, based on its proprietary "SmartWheels" technology that integrates driving and suspension systems into the vehicle's wheels. Indigo Tech is also engaged in Transportation as a Service (TaaS) business, combining charging infrastructure and digital mobility services with its vehicles.

The electric commercial vehicle market is growing due to increasing demand for logistics and delivery services and the shift toward electrification. According to research firm Global Market Insights, the global electric van market is projected to grow from approximately $16.3 billion in 2024 at an average annual growth rate of 15.5 percent, reaching about $65.6 billion by 2034.

With this partnership, LG Energy Solution plans to expand its 46-series supply base in the North American electric commercial vehicle market. The company is also working to begin operations at its cylindrical battery plant in Queen Creek, Arizona within the year.

Oh Sunghwan, Head of Marketing Group at LG Energy Solution's Small Battery Division, stated, "It is meaningful that we have secured a new U.S. customer based on our NCM-based 46-series. We will further expand our business into the electric commercial vehicle market and accelerate the growth of our 46-series business."

In the second quarter of this year, LG Energy Solution's cylindrical battery shipments increased 1.5 times compared to the same period last year.

This content was produced with the assistance of AI translation services.