LG Energy Solution has signed a non-binding Memorandum of Understanding (MoU) with US-based commercial electric vehicle (EV) startup indiGOtech to explore potential battery supply arrangements and technological collaboration for commercial electric vehicle applications.
indiGOtech is headquartered in Woburn, Massachusetts, and specializes in electrifying commercial van platforms for the North American market. The company is developing an ecosystem that integrates vehicles, charging infrastructure, and digital services.
Under the MoU, the partners will work toward a final agreement for LG Energy Solution to supply 46-series NCM cylindrical battery cells from 2027 to 2030 for indiGOtech’s upcoming Flow Ride and Flow Cargo EVs.
The partners will support joint business development through vehicle-battery integration and performance verification efforts. To maximize vehicle performance, both companies intend to review opportunities to extend driving range and reduce charging times.
“Urban ride hail and delivery must electrify and automate at scale, but today’s electric vehicles are not designed for purpose, and are severely limited by the local charging infrastructure – that’s why vast majority of rides and deliveries are still driven by gas vehicles.” said Will Graylin, Chairman and CEO of indiGOtech. “Working toward a long-term relationship with LG Energy Solution brings together advanced battery technology for durable economic advantage for vehicles, drivers and fleet operators.”
“Based on LG Energy Solution’s 46-series NCM cylindrical battery technology that boasts high energy density and rapid charging capabilities, we will closely collaborate with indiGOtech, which is successfully building the Transportation-as-a-Service (TaaS) ecosystem in the U.S.,” said Sunghwan Oh, Mobility & IT Battery Marketing Group Leader of LG Energy Solution. “Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the U.S., including logistics, last-mile delivery, and ride-hailing.”
LG Energy Solution is also strengthening its competitiveness by securing additional customers for its 46-series cylindrical batteries. The company reported that cylindrical battery shipments increased by 1.5 times year on year as of Q2, supported by stable mass production and expanded deliveries of its 46-series batteries.
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