Overview
- LG Energy Solution said it received formal notice from Ford canceling the contract, according to a regulatory filing in Seoul.
- The scrapped agreement covered roughly 109 GWh of NCM cells from LG’s Poland plant for Ford light commercial vehicles between 2026 and 2032.
- LG attributed the termination to Ford discontinuing certain EV models due to policy changes and a weaker demand outlook.
- Ford’s realignment includes dissolving its U.S. battery joint venture with SK On and pursuing LFP production in Kentucky under CATL licensing within about 18 months.
- The lost order equaled about 28.5% of LG Energy Solution’s prior-year revenue, analysts warned of delayed utilization gains at European plants into 2027, and Korean battery stocks fell sharply, with LGES down 8.9%.