On January 10, LG Energy Solution Ltd., a South Korean company, announced that it has signed a seven-year battery supply agreement with the U.S. electric vehicle startup Aptera Motors Corp.
In a press release, LG Energy Solution stated that it has entered into a trilateral agreement with Aptera Motors and South Korean battery pack manufacturer CTNS. Under the agreement, LG Energy Solution will supply a total of 4.4 GWh of 2170 cylindrical batteries to Aptera from 2025 to 2031.
These cylindrical lithium-ion batteries will be installed in Aptera’s solar-powered electric vehicle, the Aptera, which is set to launch in the U.S. market this year.
CTNS will assemble the cylindrical battery packs produced by LG Energy Solution and supply them to Aptera.
Aptera Motors, a U.S.-based startup known for its innovative solar electric vehicles (SEVs), has already garnered significant attention with approximately 50,000 pre-orders for its "Aptera" model, which is set to launch in the U.S. market this year. The Aptera vehicle boasts an impressive range of 643km on a single charge and can travel 64km a day using only solar panels, making it an ideal solution for urban commuting.
The collaboration with Aptera Motors aligns with LG Energy Solution's corporate vision, "Empower Every Possibility," which was announced last year. The vision outlines the company's plans to diversify its portfolio into new business areas with high growth potential, such as robots, ships, and urban air mobility (UAM). This strategic move is part of LG Energy Solution's broader efforts to expand its product and customer portfolio, leveraging its expertise in pouch and cylindrical battery fields.
In November of last year, LG Energy Solution also signed an MOU for battery cell supply and technical cooperation with Bear Robotics, a mobility platform company specializing in autonomous driving robots. These partnerships highlight the company's commitment to innovation and its pursuit of new opportunities in the rapidly evolving mobility market.
Cho Geun-hyuk, head of marketing at LG Energy Solution, emphasized the significance of the agreement, stating, "As a leading global battery industry leader, we will showcase differentiated customer value in the next-generation mobility sector." Chris Anthony, co-CEO of Aptera Motors, echoed this sentiment, saying, "This agreement is a significant milestone in bringing to market a solar electric vehicle with the reliability and performance that customers expect."
