LG Energy Solution has signed a nonbinding memorandum of understanding with U.S. commercial EV startup indiGOtech that works toward supplying 46-series NCM cylindrical battery cells from 2027 to 2030 for indiGOtech’s upcoming Flow Ride and Flow Cargo EVs. The agreement, announced this week, puts LG Energy Solution and indiGOtech on a path toward a final supply contract. The two companies will also collaborate on technical development while that contract is negotiated.
Highlights
- Supply window: The MoU targets 46-series NCM cylindrical cell supply from 2027 to 2030, pending a final agreement.
- Target vehicles: The cells would go into indiGOtech’s Flow Ride and Flow Cargo EVs, both still upcoming.
- Shipment growth: LG Energy Solution reports that its cylindrical battery shipments rose 1.5 times year over year as of the second quarter.
What Does indiGOtech Build?
indiGOtech is headquartered in Woburn, Massachusetts, and specializes in electrifying commercial van platforms for the North American market. The company is developing an ecosystem that integrates vehicles, charging infrastructure, and digital services.
Will Graylin, chairman and CEO of indiGOtech, argued that current EVs are a poor fit for commercial urban duty.
“Urban ride hail and delivery must electrify and automate at scale, but today’s electric vehicles are not designed for purpose, and are severely limited by the local charging infrastructure – that’s why vast majority of rides and deliveries are still driven by gas vehicles,” said Graylin. “Working toward a long-term relationship with LG Energy Solution brings together advanced battery technology for durable economic advantage for vehicles, drivers and fleet operators.”
Integration Work Targets Range and Charging Time
The partners plan to support joint business development through vehicle-battery integration and performance verification. Both companies intend to review opportunities to extend driving range and reduce charging times in the Flow vehicles.
LG Energy Solution says its 46-series NCM cylindrical technology offers high energy density and rapid charging capability. Sunghwan Oh, Mobility & IT Battery Marketing Group Leader at LG Energy Solution, tied the deal to the company’s commercial vehicle ambitions.
“Based on LG Energy Solution’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 U.S.,” said Oh. “Leveraging this partnership, we plan to enter the diverse commercial vehicle market in the U.S., including logistics, last-mile delivery, and ride-hailing.”
46-Series Customer Base Expands
The agreement is part of the company’s effort to win additional customers for its 46-series cylindrical batteries. LG Energy Solution attributes its 1.5-times year-over-year growth in cylindrical battery shipments to stable mass production and expanded deliveries of its 46-series batteries.
