SK Energy, South Korea’s biggest oil refiner, will supply lithium-ion batteries to Daimler’s Mitsubishi Fuso Truck & Bus unit.
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“Our company was selected to supply lithium-ion batteries to Mitsubishi Fuso’s petrol-electric vehicles Saturday,” it said in a press release on Sunday, without providing financial details.
“The agreement will help SK Energy participate in various hybrid and electric vehicle projects of Daimler as a preferred supplier.”
Industry watchers and analysts told the Korea Times SK Energy wass seeking other opportunities to have further partnerships with other world-leading automotive companies such as Mercedes-Benz, although SK spokesmen declined to comment.
Daimler owns 85% of Fuso, with the remainder held by Mitsubishi group companies. Mitsubishi Fuso is Asia’s top large-sized vehicle manufacturer, selling some 190,000 buses and trucks as of the end of 2007, officials said.
LG Chem is to supply li-ion batteries for the upcoming General Motors’ Volt hybrids while LG Chem has a deal with Buick for sports utility vehicles and plans to provide rechargeable batteries to CT&T for neighborhood electric vehicles.
Samsung SDI is also working to supply its batteries to BMW’s electric cars next year via a joint venture with Bosch called SB LiMotive.
“The competition for the leadership in supplying lithium-ion batteries used in cars spurred by SK Energy’s recent deal is getting fiercer and fiercer,” Ahn Sang-hee, an analyst at Daishin Securities, told the Korea Times.
