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