TEST2 Ford Cancels Multi-Billion-Dollar Battery Contract with LGES
U.S. car manufacturer Ford has terminated its supply contract for electric vehicle batteries with South Korean cell manufacturer LG Energy Solution (LGES). The contract was worth approximately 6.5 billion US dollars. LGES confirmed the termination in a regulatory filing and referred to a statement from Ford. According to this info, Ford decided to terminate the contract due to changed political conditions and a reassessment of market demand for electric vehicles.
Comprehensive strategic changes
The original contract called for deliveries to Ford plants in Europe to begin in 2026/2027. The cancellation is part of Fordʼs comprehensive strategic changes, which include writing off assets worth 19.5 billion dollars and discontinuing several electric vehicle models. Earlier in December 2025, South Korean battery manufacturer SK On announced that it would not continue its battery production joint venture with Ford in the United States. The two companies had planned to invest 11.4 billion dollars in new production facilities.
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