LG Energy Solution to supply batteries for Isuzu's Elf truck

LG Energy Solution will supply cylindrical batteries to Yokohama's Isuzu Motors starting next year.

LG Energy Solution's cylindrical EV batteries [LG ENERGY SOLUTION]

LG Energy Solution will supply cylindrical batteries to Yokohama's Isuzu Motors starting next year.

The two companies are currently developing an electric version of the Japanese automaker's Elf truck, according to local media reports.

The size of the deal is reported to be around 1 trillion won, though LG Energy Solution declined to comment.

LG will supply the batteries for four years starting from 2023.

Isuzu Motors has 33 percent of Japan’s commercial vehicle market as of end of last year. The Elf truck was introduced in Korea in 2017, and around 2,000 have been sold in the domestic market so far.

With LG's batteries, the electric Elf truck is expected to run around 150 kilometers (93 miles) per charge. Isuzu Motors will mass produce the truck starting next year at its Fujisawa plant.

LG Energy Solution has slowly been expanding its presence in the Japanese market, which is currently dominated by a few local battery makers.

Last month, LG Energy signed a deal with Nissan to provide its pouch-type batteries for the automaker's Ariya SUVs.

The Korean battery maker is currently in talks with Honda to establish a joint venture in North America.

BY SARAH CHEA [chea.sarah@joongang.co.kr]