LG Energy Solution engineers check electric vehicle batteries.
Battery cooperation between LG Energy Solution and Toyota Motor has emerged as a hot issue in the world battery industry.
LG Energy Solution is reportedly leaning towards supplying batteries to Toyota instead of establishing a battery joint venture. It is highly likely to supply pouch type batteries to the Japanese carmaker.
Toyota has thus far used prismatic batteries, but it appears to be moving towards battery type diversification, analysts say. Toyota wants to quickly secure batteries as the Inflation Reduction Act (IRA) is enforced in the United States this year.
LG Energy Solution is currently rolling out pouch type batteries at its factory in Michigan of the United States.
Toyota, a latecomer in the electric vehicle business, announced in August 2022 that it will invest about 7…