South Korean battery manufacturer LG Energy Solution (LGES) announced that it has signed a non-binding memorandum of understanding (MoU) with US electric commercial vehicle start-up Indigo Technologies (IndiGOtech) to “explore battery supply and technological collaboration.”
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Massachusetts-based IndiGOtech is focused on the development of electrified platforms for commercial vans for the North American market. The company is also developing an ecosystem that integrates vehicles, charging infrastructure, and digital services.
LGES confirmed that under the MoU, the two companies “will work toward a final agreement for LGES to supply 46-series NCM cylindrical battery cells from 2027 to 2030 for IndiGOtech’s upcoming Flow Ride and Flow Cargo EVs. The partners will support joint business development through vehicle-battery integration and performance verification efforts.”
The two companies said they will work together to explore opportunities to optimize vehicle performance, including maximizing driving range and reducing charging times.
IndiGOtech’s chairman and CEO, Will Graylin, said in a statement: “Urban ride-hailing and delivery must electrify and automate at scale, but today’s electric vehicles are not designed for purpose, and are severely limited by local charging infrastructure – that is why the vast majority of rides and deliveries are still driven by gas vehicles. Working toward a long-term relationship with LGES brings together advanced battery technology for a durable economic advantage for vehicles, drivers and fleet operators.”
LGES’s head of Mobility & IT Battery Marketing, Sunghwan Oh, confirmed: “Based on LGES’s 46-series NCM cylindrical battery technology that boasts high energy density and rapid charging capabilities, we will closely collaborate with IndiGOtech, which is successfully building the Transportation-as-a-Service (TaaS) ecosystem in the US. Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the US, including logistics, last-mile delivery, and ride-hailing.”
