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LG Energy Solution Collaborates with ICPT to Supply Battery Modules for European Electric Commercial Vehicles

South Korea
l 373220.KO Blue Chip 150
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LG Energy Solution is set to strengthen its presence in the European electric commercial vehicle market through a strategic partnership with ICPT, a Polish battery pack manufacturer and sales company. The collaboration involves a battery module supply contract, with LG Energy Solution supplying around 200,000 NCM (nickel, cobalt, manganese) battery modules to ICPT over the next three years.

The contract, estimated to be worth hundreds of billions of won, will facilitate the production of approximately 3,000 large electric commercial vehicles. ICPT, established in 2005, is known for its role in assembling modules into packs and delivering them to Solaris Bus & Coach, the largest electric bus company in Europe. Operating the ‘Gigafactory X’ pack and module assembly plant in Poland, ICPT has built a robust supply chain in the region.

The electric commercial vehicle market, especially buses and trucks, has gained prominence as a high-value industry due to the significantly higher battery load per vehicle compared to the general electric vehicle market. LG Energy Solution’s collaboration with ICPT aims to leverage the expertise of both companies to meet the growing demand in this sector.

An official from LG Energy Solution expressed confidence in proving the company’s advanced battery technology in the rapidly expanding European commercial vehicle market. The partnership with ICPT reflects LG’s commitment to delivering the highest level of customer value and solidifying its position as a key player in the electric mobility space.

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