LG Chem Ltd. will provide cathode materials to Prime Planet Energy & Solutions (PPES), a battery joint venture between Toyota Motor and Panasonic Holdings, beginning in 2026.
PPES, which supplies batteries to major electric vehicle manufacturers, including Toyota, will be a new customer for LG Chem. LG Chem’s decision to partner with PPES is part of its broader strategy to expand its client base.
In October 2023, LG Chem signed a significant contract valued at $2.14 billion to supply cathode materials to Toyota’s North American branch through 2030.
As reported by kedglobal.com, the materials provided to PPES are expected to be high-nickel cathode products, similar to those LG Chem supplies to Toyota in North America.
