{"id":63088,"date":"2025-12-18T17:25:20","date_gmt":"2025-12-18T17:25:20","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/ford-ends-6-5b-battery-deal-with-lg-energy-solution"},"modified":"2025-12-18T18:04:37","modified_gmt":"2025-12-18T18:04:37","slug":"ford-ends-6-5b-battery-deal-with-lg-energy-solution","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/ford-ends-6-5b-battery-deal-with-lg-energy-solution","title":{"rendered":"Ford Ends $6.5B Battery Deal With LG Energy Solution"},"content":{"rendered":"<p><span class=\"ap-article-header-tag\"> <strong>Africa-Press &#8211; Mauritius. <\/strong> <\/span>US vehicle giant Ford has cancelled an electric vehicle (EV) battery-supply deal worth about 9.6 trillion won ($6.5 billion) with South Korea&#8217;s LG Energy Solution (LGES), the South Korean firm announced Wednesday.<\/p>\n<p>In a regulatory statement, LGES said the termination came after Ford chose to discontinue various EV models owing to policy changes and changes in the outlook for EV demand.<\/p>\n<p>In October 2024, LGES entered into two agreements to provide Ford Motor with EV batteries in Europe beginning in 2026 and 2027.<\/p>\n<p>On Monday, Ford announced that it will take a $19.5 billion write-down and is discontinuing multiple EV models, in an instance of the auto industry&#8217;s withdrawal from battery-powered cars in reaction to the Trump administration policies and declining demand for EVs.<\/p>\n<p>SK On, a South Korean battery manufacturer, announced this week that it has opted to terminate its joint venture with Ford for their joint battery plants in the US.<\/p>\n<p>To construct their joint battery factories in the US, SK On and Ford had committed $11.4 billion in 2022.<\/p>\n<p class=\"ap-article-footer-note\">Find more news and analyses on <span class=\"ap-highlight-country\">Mauritius<\/span> on the <span class=\"ap-highlight-brand\">Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. US vehicle giant Ford has cancelled an electric vehicle (EV) battery-supply deal worth about 9.6 trillion won ($6.5 billion) with South Korea&#8217;s LG Energy Solution (LGES), the South Korean firm announced Wednesday. In a regulatory statement, LGES said the termination came after Ford chose to discontinue various EV models owing to policy [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":63087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[3423,4990,3380,2603,7170,7169,241],"class_list":["post-63088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-batteries","tag-deal","tag-ev","tag-ford","tag-lg","tag-lg-energy-solution","tag-mauritius"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ford Ends $6.5B Battery Deal With LG Energy Solution - Mauritius<\/title>\n<meta name=\"description\" content=\"-article-header-tag&quot;&gt; Africa-Press - Mauritius. 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