Ford Motor has cancelled a $6.5 billion EV battery supply deal with LG Energy Solution amid US policy uncertainty and changing EV demand outlook.
Ford Motor Company has taken a major decision in the global automobile sector by cancelling a large electric vehicle (EV) battery supply deal with South Korea’s LG Energy Solution. The agreement was valued at approximately $6.5 billion (around ₹58,730 crore).
According to reports, the decision comes amid policy uncertainty in the United States, including possible changes under president-elect Donald Trump, as well as shifting estimates around future EV demand. These factors are believed to have influenced Ford’s move to terminate the battery contract.
The cancellation marks a significant development in the EV industry and highlights the impact of political and market uncertainties on large-scale automotive investments.