Battery maker LG Chem is to supply lithium-ion cells to electric vehicle firm Faraday Future after the two companies formed a partnership.
Both companies have worked on a bespoke higher density EV battery technology for Faraday Future’s Varible Platform Architecture, the company’s universal and scalable modular battery structure.
The deal was for a reported 2.7 trillion won (US$2.40 billion), which at around $145/ kWh represents a capacity output of around 16.5 GWh of battery cells— or enough for around 200,000 vehicles.
The Korean Firm worked closely with Faraday Future to develop a tailored cell chemistry to optimise the range and safety of the California, US, based company’s mass production battery hardware, said Tom Wessner, VP of Global Supply Chain, Faraday Future.
UB Lee, the President of Energy Solution Company, LG Chem, said: “We are proud to work alongside Faraday Future as we work together to create the next generation of electric vehicles.
“Our progress so far represents a major step forward in battery technology, and we look forward to growing our partnership and co-developing hardware into the future.”
At the start of the year, LG Chem announced a deal to manufacture batteries for the plug-in hybrid version of Chrysler Pacifica minivans at its plant in Michigan, US.
It also has deals with Chevolet, Volkswagon, Daimler and Nissan (https://www.bestmag.co.uk/content/japanese-oem-set-buy-li-ion-batteries-lg-chem)
Farady Future is financed by Chinese tech company LeEco. Farady Future is reportedly planning to produce 140,000 vehicles per year at its $1billion Nevada, US factory, with LeEco setting its sights on producing 400,000 vehicles per year at its $2billion plant in Zhejiang province’s Deqing county, China.