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LG to Supply Lithium-Ion Batteries for Hyundai’s Hybrid Car
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LG is teaming up with Hyundai Motor to produce hybrid cars. LG Chem, South Korea’s largest chemical company, said Saturday that it has won an order to exclusively supply rechargeable hybrid car batteries to Hyundai Motor and its affiliate Kia Motors.
LG Chem said in a statement that it would supply lithium-ion polymer batteries to the Hyundai-Kia Automotive Group Hyundai's Avante hybrid car, which is scheduled for mass-production in 2009.
LG Chem Vice Chairman Kim Ban-seok said in the statement that the order showed its technological competitiveness in rechargeable batteries for cars.
The global market for lithium polymer batteries would top 1.4 trillion won (US$1.5 billion) in 2012, as carmakers were expected to focus on hybrid models, the company said.
[source: Chosun.com]
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