Seoul, Nov 18 (IANS) LG Energy Solution Ltd (LGES), South Korea’s leading battery maker, said on Monday it has signed an initial pact with US-based Bear Robotics to become its sole supplier of cylindrical batteries.
LGES signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company to supply its cylindrical battery cells for Bear Robotics’ flagship robots, such as Servi Plus and Carti 100, from next year, the company said in a statement.
The agreement also includes cooperation on new technologies and fostering a strong partnership to strengthen both parties’ competitive edge in the burgeoning global robot market, it said.
LGES aims to diversify its business portfolio by expanding into new areas, particularly those with high growth potential, such as urban air mobility, vessels and robotics, reports Yonhap news agency.
Last week, LG Energy Solution clinched a deal to supply electric vehicle batteries to US automotive manufacturer Rivian. Under the deal, LGES will provide Rivian with its advanced 4695 cylindrical batteries, totalling 67 gigawatt hours, for over five years, according to the company.
LGES said the batteries will be manufactured at the company’s U.S. plant in Arizona and will be used in Rivian’s R2 sport utility vehicles. The deal with Rivian follows the Korean company’s similar battery-supply contracts with global carmakers, including Mercedes-Benz and Ford.
LGES said its 4695 cylindrical battery cells are gaining popularity thanks to their larger capacity, higher energy efficiency and enhanced safety features amid increasing demand for cylindrical batteries.
“Due to the dynamic nature of the current EV market, an increasing number of global automakers are demonstrating a strong preference for a diverse range of battery form factors,” said David Kim, CEO of LG Energy Solution.
“This large-scale order from Rivian for 4695 batteries marks a key milestone for LG Energy Solution in expanding its client base within the cylindrical battery segment.”
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
