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LG Energy keeps business on full charge with range of battery-related MOUs

Published: 27 Mar. 2025, 13:52

LG Energy Solution announced an agreement with Doosan Bobcat to develop battery pack solutions for compact construction equipment. [LG ENERGY SOLUTION]

LG Energy Solution announced that it will develop battery pack solutions for compact construction equipment with Doosan Bobcat as the battery maker looks to diversify its product and customer portfolio into areas of high future growth potential.

The memorandum of understanding (MOU) is part of LG Energy’s push to deliver differentiated customer value in the electric vehicle market while enhancing corporate value. The agreement involves the utilization of the firm’s cylindrical batteries in Doosan Bobcat’s construction equipment electrification projects as well as the joint development of standardized battery packs for construction equipment.

The companies also plan to weigh an expansion of electrification beyond the construction sector to agricultural landscaping equipment like tractors.

In January, LG Energy Solution announced an exclusive supply agreement for cylindrical batteries to Aptera Motors, a U.S. solar electric vehicle startup. [LG ENERGY SOLUTION]

At CES 2025 in January, the battery firm announced an exclusive supply agreement for cylindrical batteries to Aptera Motors, a U.S. solar EV startup, in a trilateral MOU that included CTNS, a Korean battery pack manufacturer. Under this agreement, Aptera will receive 4.4 gigawatt-hours of cylindrical batteries until 2031.

The startup's solar EV is a new form of mobility that maximizes driving range by simultaneously tapping solar panels and battery packs. Following successful test drives last year, the automaker has received approximately 50,000 pre-orders and is planning to launch in the U.S. market this year.

LG Energy Solution also inked an MOU on battery cell supply and technical cooperation with Bear Robotics, an autonomous robot-based mobility platform firm, last November.

Through this agreement, LG Energy plans to secure a strong position in the global robotics market, which is expected to see huge growth, a future growth driver.

Last year, the company announced a new corporate vision — “Empower every possibility” — along with plans to broaden its portfolio into sectors with high future growth potential, including robotics, marine vessels and urban air mobility.

Since the first development of cylindrical batteries in 1999, LG Energy has created various products including the recent 46-series batteries, continuously expanding their application range. Mass production of the 46-series at its Arizona plant in the United States is expected to start next year.

“Through the expansion of our diverse product portfolio during the electric vehicle market chasm, we will build a robust business structure that doesn’t solely depend on the electric vehicle market,” an LG Energy Solution representative said.

BY LEE YEBIN [[email protected]]