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Greenway Technology and LG Energy form a long-term cell supply cooperation

Greenway Technology and LG Energy form a long-term cell supply cooperation

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  Shenzhen, China, January 13, 2022 - In the final quarter of 2021, Guangdong Greenway Technology

  Co., Ltd (Greenway Technology), a leading manufacturer of lithium-ion batteries for micro-mobility

  and energy storage applications, signed a contract with LG Energy Solution, Ltd. (LG Energy) to invest

  in a new production  line for battery cells from LG Energy in Nanjing.

 

  LG Energy, one of the world market leaders in battery products and energy solutions, guarantees Greenway

  Technology deliveries of lithium-ion cells in automotive quality with price advantages from 2023 to 2028. With this

  agreement, Greenway Technology continues to expand into the growing market of light electromobility.

 

  This strategic supply agreement will help Greenway Technology achieve its margin and cost targets to provide

  attractive battery systems to the electric bike, motorcycle and energy storage markets. Greenway Technology

  focuses on products with very high quality, making LG Energy the ideal partner with its many years of experience as

  a cell manufacturer.

 

  Subject of this long-term partnership are 21700 cylindrical NMC cells with 5000mAh of the latest generation, an

  excellent fit for the application in light electric vehicles (LEVs) such as pedelecs, e-bikes, and e-scooters.

 

  “Greenway Technology is proud to enter into a new stage of collaboration with LG Energy,” said John Zeng, General

  Manager of Greenway Technology. “We build on our strong relationship with LG Energy to supply the market with

  the best quality products to provide sustainable and safe energy solutions for the world’s big challenges in mobility

  and emission.”

 

  Greenway Technology is one of the market leaders developing and manufacturing innovative lithium-ion battery

  systems for the micro-mobility industry, drive system suppliers and vehicle manufacturers in Europe and Asia.

 

  LG Energy was established in 2020, as a subsidiary of LG Chem. According to SNE Research, LG Energy is the

  world’s second largest supplier of EV batteries, with a market share of 23.7% in 2021. LG Energy sets a strong focus

  on industry-leading performance cells for electric mobility vehicle producers, and currently counts as cell supplier for

  Tesla.

 

  Greenway Technology is, at the time of writing this news, one of the few companies that holds a strategic cell supply

  agreement with LG Energy.

 

  Shenzhen, October 2021, General Manager John Zeng from Greenway Technology and Ray Kim from LG Chem