LG ENERGY SOLUTIONS has signed a strategic partnership with US electric commercial vehicle startup INDIgoTECH to supply 46-series batteries for next-generation electric trucks.
Under the agreement, LG ENERGY SOLUTIONS will prioritize supplying 46-series batteries to INDIgoTECH's upcoming electric commercial vehicles Flow Ride and Flow Cargo.
The two companies plan to collaborate on technology to optimize vehicle and battery performance. INDIgoTECH aims to secure battery technology and stable supply bases, while LG ENERGY SOLUTIONS intends to enhance its competitive edge in the North American market with 46-series batteries.
Founded in 2010, INDIgoTECH develops electric commercial vehicles based on SmartWheels technology and also pursues a TaaS (Transportation as a Service) business model. The electric commercial vehicle market is projected to grow from approximately $16.3 billion in 2024 at an annual rate of 15.5% to around $65.6 billion by 2034.
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