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- Isuzu to buy LG Energy Solutions cylindrical batteries in $748 million deal, many other investments from the automaker announced
Isuzu to buy LG Energy Solutions cylindrical batteries in $748 million deal, many other investments from the automaker announced
Japanese automaker Isuzu Motors has partnered with LG Energy Solution to supply cylindrical cells for its electric vehicles (EVs) until the end of 2026.
The deal, which is estimated to be worth at least one trillion won (approximately 748 million dollars), will support Isuzu’s efforts to electrify its medium-duty truck, the Isuzu Elf.
The Isuzu Elf, which has been in production since October 2023, has a gross vehicle weight of 5 or 7.5 tonnes. The 5-tonne version of the truck has an output of 110 kW and is equipped with a 40 or 60-kWh battery, providing a range of 120 or 180 kilometers. The 7.5-tonne version, on the other hand, has 150 kW of power and a 100 kWh battery, offering a range of up to 250 kilometers.
Isuzu is also investing 32 billion baht (1.3 billion dollars) in its Thai plant to produce electric pickup trucks over the next five years. This includes an electric version of the Isuzu D-Max, which is expected to roll off the production line in early 2025. The company aims to offer a range of up to 400 kilometers for this vehicle, targeting businesses that require reliable and efficient vehicles for transporting goods and people.
In addition to these initiatives, Isuzu is reportedly building a center for electric vehicles in Japan, known as the ‘Earth Lab’, to test and develop components such as motors, batteries, and thermal management systems. The facility is scheduled to open in June 2026.
Despite these developments, Isuzu continues to maintain its existing partnerships. The company collaborates with Toyota and Hino for buses and with Honda for a heavy-duty hydrogen truck, the Giga Fuel Cell truck, which is currently undergoing road tests in Japan and is planned for release in 2027.
“Isuzu increasingly appears wanting to leave its mark in the EV space. A dedicated product page for the Elf EV details an ecosystem surrounding the truck with a management platform and the ‘EVision’ statement,” the company said in a statement.