South Korea’s LG Energy Solution said on Wednesday that Ford Motor has terminated an electric vehicle (EV) battery-supply deal worth about $6.50 billion.

 

The South Korean battery maker said in a regulatory filing that the termination followed a notice from Ford after the automaker decided to halt production of some EV models due to policy changes and shifts in outlook for EV demand.

 

Last October, LGES signed two contracts to supply EV batteries to Ford Motor in Europe starting in 2026 and 2027.