November 30, 2024

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(LG Energy Solution)

South Korean battery maker LG Energy Solution is poised to bolster business cooperation with US carmaker Ford.

LG Energy Solution said Friday that it would provide more batteries for Ford, which has recently seen growing demand for its electric vehicles, such as the Mustang Mach-E and E-Transit.

The battery maker has been supplying batteries for these two models since the second half of 2020.

To supply more batteries to Ford, the battery maker will double its battery assembly lines in its battery factory in Poland by next year.

This expansion maximizes investment efficiency by utilizing existing production lines and upgrading facilities, according to LG Energy Solution.

Ford has sold more than 55,000 units of Mustang Mach-E globally last year and continues to increase its production.

Last year, Ford CEO Jim Farley tweeted that it will triple the production of Mustang Mach-E by 2023.

Ford plans to invest $50 billion in EVs until 2026 and produce 2 million EVs annually to make EV sales account for more than 50 percent of its collective sales.

By Hong Yoo (yoohong@heraldcorp.com)