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LG Chem Forms Strategic Alliance with Lucid Motors to Provide Batteries
Battery for Luxury EV
LG Chem Forms Strategic Alliance with Lucid Motors to Provide Batteries
  • By Jung Min-hee
  • December 21, 2016, 07:30
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Atvus, Lucid Motors’ electric vehicle.
Atvus, Lucid Motors’ electric vehicle.

 

LG Chem has formed a partnership with Lucid Motors, a U.S.-based luxury electric vehicle (EV) start-up.

The company announced on December 20 that it has signed a strategic supply agreement with Lucid Motors for lithium-ion battery cells. Under the deal, LG Chem will supply its cylindrical lithium-ion battery to Lucid Motors’ first mass-produced EV “Lucid Air.”

The cylindrical battery cells that LG Chem will be producing for Lucid have been developed together in partnership. Lucid Motors selected LG Chem’s lithium-ion cells, which are among the best on the market, based on its data from years of experience with EV battery pack research and development.

Lucid Motors has recently announced a separate battery cell supply agreement with Samsung SDI. Although both supply agreements are intended for Lucid’s first vehicle, there are other possible applications for these cells. These could include batteries developed for other companies as part of Lucid’s powertrain supply business.