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South Korean battery maker LG Energy Solution Ltd. (LGES) said on Tuesday it has signed a deal with General Motors to develop prismatic battery cells. 

Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or "chemistries." Once developed, the prismatic battery cells will power GM's future electric vehicles (EVs), LGES said in a statement.

Prismatic battery cells feature a flat, rectangular shape with a rigid enclosure, which allows for space-efficient packaging within battery modules and packs. They could lower EV costs and weight, reports Yonhap news agency.

Their development will mark a significant milestone for LGES, as it will become the world's first battery manufacturer to offer all three form factors -- pouch-type, cylindrical and prismatic cells, it said.

"Together with GM, we look forward to deepening our collaboration to drive the right chemistry and battery combinations for continued growth in the EV market," Suh Won-joon, executive vice president and head of LGES' advanced automotive battery division, said in the statement.

LGES has maintained a 14-year battery technology partnership with the Detroit carmaker.

Under the joint venture with GM, LGES currently operates a battery cell plant in Ohio and another in Tennessee, with the third one set to begin operations in Michigan next year.

"We are focused on optimizing our battery technology by developing the right battery chemistries and form factors to improve EV performance, enhance safety and reduce costs, said Kurt Kelty, GM's vice president of battery cell and pack. "By extending our partnership with LGES, we are taking an important step toward these goals."

LGES said it will work to offer "efficient and safe power solutions" with its expanded product portfolio that addresses different needs in each EV segment, thereby supporting global mass EV adoption.