LG Energy Solution has signed a non-binding memorandum of understanding (MoU) with US commercial electric vehicle (EV) start-up indiGOtech to explore battery supply and technology collaboration.
Headquartered in Woburn, Massachusetts, indiGOtech specialises in electrifying commercial van platforms for the North American market. Its developing ecosystem combines vehicles, charging infrastructure and digital services.
Under the MoU, the companies will work towards a final agreement covering the supply of LG Energy Solution’s 46-series NCM cylindrical battery cells to indiGOtech from 2027 to 2030. The batteries are intended for the start-up’s upcoming Flow Ride and Flow Cargo EVs.
The partnership will also cover joint business development, including vehicle-battery integration and performance verification. The companies intend to investigate opportunities to increase driving range and reduce charging times as part of efforts to optimise vehicle performance.
“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.”
The agreement also supports LG Energy Solution’s efforts to expand its customer base for 46-series cylindrical batteries. The company reported that cylindrical battery shipments rose 1.5 times year on year as of Q2, supported by stable mass production and increased deliveries of its 46-series batteries.
Image: Nakjin Kim, Head of Product Planning/Strategy in Mobility & IT Battery Division at LG Energy Solution (left) and Will Graylin, Chairman and CEO of indiGOtech (right). Credit: LG Energy Solution.
