LG Energy Solution has signed a non-binding memorandum of understanding (MoU) with US commercial electric vehicle startup indiGOtech to explore the supply of 46-series cylindrical battery cells for electric vans in North America.
Under the proposed cooperation, the two companies will work toward a definitive agreement under which LG Energy Solution would supply 46-series nickel-cobalt-manganese (NCM) cylindrical battery cells for indiGOtech’s upcoming Flow Ride and Flow Cargo electric vehicles from 2027 through 2030.
The companies also plan to collaborate on vehicle-battery integration and performance verification, with the aim of supporting joint business development.
indiGOtech Develops Commercial EV Platform
Headquartered in Woburn, Massachusetts, indiGOtech focuses on electrifying commercial van platforms for the North American market. The startup is developing a Transportation-as-a-Service (TaaS) ecosystem that combines electric vehicles with charging infrastructure and digital services.
The partnership with LG Energy Solution will focus on improving the performance of indiGOtech’s upcoming commercial vehicles. According to LG Energy Solution, the companies will assess 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 [the] 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.”
LG Energy Solution Expands 46-Series Battery Customer Base
For LG Energy Solution, the potential agreement would provide another customer for its 46-series cylindrical battery technology in the North American commercial vehicle market.
The company said cylindrical battery shipments increased 1.5 times year on year as of the second quarter. LG Energy Solution attributed the increase to stable mass production and expanded deliveries of its 46-series batteries.
The company is positioning the technology for applications requiring a combination of energy density and charging performance, including commercial vehicles used in logistics, last-mile delivery and ride-hailing.
“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.”
Proposed Battery Supply Would Begin in 2027
The proposed supply arrangement would cover indiGOtech’s Flow Ride and Flow Cargo electric vehicles between 2027 and 2030. However, the current MoU is non-binding, meaning the companies must still reach a definitive agreement before the proposed supply relationship can proceed.
The collaboration gives LG Energy Solution an opportunity to broaden the application of its 46-series NCM cylindrical cells beyond passenger vehicles, while indiGOtech is seeking battery technology suited to the operating requirements of commercial ride-hailing and delivery fleets.