On June 15, 2023, Huizhou EVE Energy Co., Ltd. Entered into the MASTER PURCHASE AGREEMENT with American Battery Solution (ABS), pursuant to which the Company expects to produce and deliver 13.389 GWh of square lithium iron phosphate batteries to ABS. EVE Energy Aggressively Expands Battery Program
The company has existing supply agreements with qualified battery suppliers in addition to EVE.
Under the contract, LG Energy Solution will supply automotive battery modules at an annual capacity of 20GWh starting from 2025. The battery modules, consisting of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch-type cells, will be manufactured in LG Energy Solution’s Michigan facility.
LG Energy Solution to supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025. Modules produced in LG Energy Solution’s Michigan facility to be used to power a new BEV model assembled in North America, at Toyota Motor Manufacturing Kentucky, among others.
The landmark deal represents LG Energy Solution’s largest single supply agreement secured outside of joint venture agreements. The company now supplies its batteries to all top five global automakers .
The announcement refers to the “original agreement signed between the company and ABS”, which refers to the 13.389GWh order from EVE Energy in June last year.
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