Toyota’s $1.5 billion battery order from LG? It’s like trying to fill a black hole with bubblegum – it’s not going to change the fundamental laws of physics, but at least it makes a great spectacle! Meanwhile, GM’s pullout is like a magician’s disappearing act; first they’re here with their billion-dollar share, then poof, they’re gone! And LG, the magician’s assistant, left holding the bag, or rather, the batteries. It’s a perfect example of how in the EV world, even the most promising partnerships can be as fleeting as a balloon in a tornado. Now, South Korean companies are dumping $54 billion into U.S. battery plants – what’s next, a battery-based pyramid scheme? Let’s hope Toyota’s investment doesn’t turn into another stranded battery, but then again, what’s a billion dollars in the world of auto giants? Maybe we should rename it ‘Toyota’s $1.5 billion fairy tale.’
Read from: https://www.topspeed.com/toyota-comes-to-lg-batterys-aid-after-gm-backs-out/