South Korean company LG Energy Solution is reportedly on track to become a commercial electric vehicle battery supplier for Isuzu Motors.
The deal between Isuzu and LG Energy Solution is estimated to be worth $763 million or more, a South Korean newspaper reported on Tuesday.
LG Energy Solution will supply batteries for Isuzu’s commercial electric vehicles for four years starting next year.
The use of LG Energy Solution’s electric vehicle batteries will begin for the electric vehicle version of the Elf truck, the Korea Economic Daily reported, citing an unnamed industry source.
The electric vehicle version of the Elf truck is expected to be equipped with an LG Energy Solution cylindrical battery, the newspaper added.
LG Energy Solution declined to comment on the deal, while Isuzu Motors representatives could not be reached outside business hours.
