Cell & Pack Manufacturing

Profiles of C&P Industry Players

Summary: 2025 was a year of ups and downs. While Ultium, the LGES and GM JV, scaled back in 2025, LGES was able to sign new deals with Toyota and Tesla. LGES is also expanding its product portfolio, from being dominated by NMC pouch cells for EVs to a much broader portfolio of chemistries NMC, LFP, NRM) and formats (pouch, cylindrical, and prismatic) for both EV and ESS applications. LGES also in the news as the JV site with Hyundai was the target of a high-profile ICE raid in September.

Summary: 2025 was a year of diversification for Samsung SDI as well, expanding into new cell formats and energy storage markets. While the partnership with GM is slowing down, Samsung SDI signed a major ESS battery supply deal with Tesla. Samsung also initiated an approach into solid state batteries in partnership with Solid Power and BMW. Unfortunately, Samsung SDI was in the news in November due to a Stellantis recall of Samsung SDI powered plug-in hybrid vehicles due to fire risk.

Notable events:

Notable events:

GM sells stake in Lansing battery cell plant to LG Energy Solution (Dec 1 2024) Toyota agrees to shift a $1.5B order with LGES to Lansing plant (Feb 2025) GM and LGES announce the commercialization of LMR prismatic battery cells (May 2025) LGES shifts to LFP BESS production in Holland, MI (June 2025) LGES signs a deal with Tesla for LFP cell production (July 2025) IS immigration agents arrest hundreds at Hyundai plant (September 2025) Ultium Cells furloughs employees in Tennessee and Ohio, combined with layoffs (Oct 2025) LGES and Stellantis JV to produce LFP cells for BESS (November 2025) Ford cancels LGES EV battery deal worth $6.5B for the supply of EU EV models (Dec 2025) LGES sells US factory assets of its Ohio battery JV plant to Honda (Dec 2025)

Top level numbers: LGES is on track to add 150GWh worth of battery production capacity between 2025 and 2030, maintaining their position as the largest cell producer in North America. While the customer and product portfolio has shifted, the overall volumes remain mostly intact.

Samsung SDI begins production of 46-series cylindrical batteries in the US (Mar 2025) Samsung SDI unveils new ESS products (Sep 2025) Samsung SDI signs an agreement with Solid Power and BMW to collaborate on solid-state batteries (Oct 2025) Tesla set to buy $2B in BESS batteries from Samsung SDI (Nov 2025) Samsung SDI announces conversion of EV lines in Indiana to ESS due to Stellantis battery demand drop(Nov 2025) GM, Samsung SDI battery plant construction slows down (Nov 2025) Stellantis recalls PHEV Jeeps (Nov 2025)

Top level numbers: Samsung SDI is on track to be producing 50GWh worth of battery production capacity between 2025 and 2030, maintaining their position as a mid-level producer in North America. While the customer and product portfolio has shifted, the overall volumes remain mostly intact.

Companies are generally shifting their focus from EVs to a broader portfolio that includes energy storage. Source: Company announcements

Extracted from the PDF; charts and images may read imperfectly.