Lucid Motors has signed a strategic supply agreement with LG Chem for lithium-ion battery cells.
The agreement establishes LG Chem as one of the key suppliers of cells for Lucid’s products. The cylindrical cells that LG Chem will be producing for Lucid Motors will feature a proprietary chemistry that has been developed together in partnership.
Lucid enters the agreement after nearly a decade of experience with electric vehicle battery pack research, development and commercial operations. These battery systems have logged over 20 million miles to date, and the data Lucid has collected and analyzed from these operations have been a critical factor in selecting the best strategic suppliers.
Lucid has recently announced a separate battery cell supply agreement with Samsung SDI. Although both supply agreements are intended for Lucid’s first vehicle, there are other possible applications for these cells. These could include batteries developed for other companies as part of Lucid’s powertrain supply business, or variants of the sedan with specific performance requirements. The differing performance attributes available from the two cell suppliers provide Lucid with maximum flexibility to select the best cell for each application.
Lucid has very high expectations for the cells that are used in our batteries, and we are fortunate to have two companies that are willing and able to work with us to meet our requirements. The market now has multiple top-tier cell suppliers for automotive applications who are continuing to improve the energy storage, life, safety, and fast-charging characteristics of a cell. This emergence of high quality automotive grade cells is a positive development for Lucid, and it bodes well for the future of electric vehicles.
“Lucid Motors is grateful for the tremendous level of support from the LG Chem team,” said Albert Liu, PhD, Lucid’s Directory of Battery Technology. “LG Chem’s lithium-ion cells are among the best on the market, and we are pleased to have them as one of the suppliers of this critical component. I look forward to continued collaboration with LG Chem on the many exciting projects we have in our product pipeline.”
“It is a great honor to be nominated to be a battery cell supplier and a pleasure to support Lucid Motors to realize its vision” said Youngsun Kim, LG Chem VP of Sales. “Lucid Motors and LG Chem have collaborated on developing power management technology by bringing our expertise in lithium-ion battery cells. We are trying our best to meet the stringent and outstanding performance and quality standards of Lucid Motors.”