Transportation

Ford Scraps $6.5 Billion EV Battery Contract With Korea’s LG

Ford announced it would take $19.5 billion in charges tied to a sweeping overhaul of its EV business.Photographer: Alex Kraus/Bloomberg

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By Shinhye Kang

December 17, 2025 at 9:12 AM UTC

Updated on

December 18, 2025 at 1:22 AM UTC

Ford Motor Co. canceled a 9.6 trillion won ($6.5 billion) battery agreement with LG Energy Solution Ltd. after the US automaker rolled back its electric vehicle ambitions.

Ford notified LG of the canceled order on Wednesday, the South Korean company said in a regulatory filing in Seoul. The amount is equivalent more than a third of LG’s total revenue last year.