Under the terms of the MOU, LG Energy Solution and Indigotech will work towards a definitive agreement under which LG Energy Solution will supply 46 series cylindrical NCM battery cells for Indigotech’s upcoming “Flow Ride” and “Flow Cargo” electric vehicles from 2027 to 2030.
IndiGOtech is based in Woburn, Massachusetts, a hot spot for electric mobility in the United States. The American startup specializes in electrifying commercial van platforms for the North American market and is developing an ecosystem that integrates vehicles, charging infrastructure and digital services. The startup and the South Korean battery giant are seeking joint business development support through vehicle battery integration and performance verification efforts.
The two companies want to maximize vehicle performance by reviewing “opportunities to extend range and reduce charging times,” according to a statement from LG.
“Urban transportation hauling and delivery needs to be electrified and automated at scale, but current electric vehicles are not designed for a specific purpose and are severely limited by local charging infrastructure – which is why [the] The vast majority of trips and deliveries are still made with gasoline-powered vehicles,” said Will Graylin, president and CEO of indiGOtech. “Working toward a long-term relationship with LG Energy Solution brings together advanced battery technology for a lasting economic advantage for vehicles, drivers and fleet operators.”
For LG Energy Solution, the pending deal is an opportunity to strengthen its competitiveness by securing additional customers for its 46 series cylindrical batteries in North America. According to the company, shipments of cylindrical batteries increased 1.5 times year-on-year from the second quarter. This was supported by what the company says was “stable mass production and expanded deliveries of its 46 series batteries.”
“Based on LG Energy Solution’s 46 series NCM cylindrical battery technology that features high energy density and fast charging capabilities, we will collaborate closely with indiGOtech, which is successfully building the transportation-as-a-service (TaaS) ecosystem in the US,” said Sunghwan Oh, IT & Mobility Battery Marketing Group Leader at LG Energy Solution. “Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the US, including logistics, last-mile delivery and ride-sharing.”
lgcorp.com
