LG Energy Solution said Thursday it had signed a memorandum of understanding to supply 46-series cylindrical battery cells to Indigo Technologies, a US commercial electric vehicle startup, from 2027 through 2030.
The nickel-manganese-cobalt cells, which get their name from their 46-millimeter diameter, will power Indigo’s next-generation commercial EVs, including its Flow Ride and Flow Cargo models.
The companies also plan to explore ways to extend driving range, shorten charging times and improve vehicle performance.
The agreement expands LG Energy Solution’s presence in North America’s commercial EV market while giving Indigo a stable supply for its upcoming models.
LG Energy Solution is expanding its 46-series battery business, with operations at its Arizona plant scheduled to begin by year-end. Shipments of the cells rose 50 percent on-year in the second quarter.
The deal comes as e-commerce growth and wider charging infrastructure drive demand for electric commercial vehicles. According to Global Market Insights, the global electric van market is projected to grow from $16.3 billion in 2024 to $65.6 billion by 2034, an average annual increase of 15.5 percent.
