On February 25, local time, South Korea`s LG Chem stated that it will exclusively supply electric vehicle batteries to American electric vehicle manufacturer Lucid Motors.
LG Chem`s customers, including General Motors and Volkswagen, will provide cylindrical batteries for Lucid Motors`Lucid Air models from the second half of this year. Lucid Motors plans to begin production of its Lucid Air sedans later this year. The contract between the two companies will expire in 2023. LG Chem has not disclosed the value of the supply contract with Lucid Motors.
Lucid Motors said in a statement that the company will begin production of its Lucid Air sedan in Arizona, USA at the end of 2020. The company's CEO and CTO Peter Rawlinson said in a statement, "The agreement with LG Chem provides the company with the best way to produce Air passenger cars, ensuring the supply of batteries and the necessary energy density to achieve Our consumers are committed to providing first-class products. "