Ford Scraps $6.5 Billion EV Battery Contract With Korea’s LG (1)

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.

LG is the latest casualty of Ford’s retrenchment in EVs — the US carmaker recently said it would take $19.5 billion in charges tied to the business and that it would scrap plans to make an electric F-Series ...