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April 26, 2010

SOUTH KOREA: LG Chem to supply Volvo lithium-ion battery

South Korean chemical manufacturer LG Chem has been selected to supply Volvo's lithium-ion battery pack according to press reports.

South Korean chemical manufacturer LG Chem has been selected to supply Volvo’s lithium-ion battery pack according to press reports.

Media in South Korea say LG Chem will supply a total pack for Volvo’s electric hybrid car, comprising battery management systems (BMS) as well as the battery cells.

The reports add LG Chem previously signed deals to provide secondary batteries to the Hyundai-Kia Automotive Group (HKAG), General Motors and Chinese manufacturer Chang’an Automobile Group.

“LG Chem has entered into supply contracts with six companies so far, namely HKAG, CT&T, Chang’an Automobile Group, Eaton Corp, General Motors and Volvo,” LG Chem vice chairman and CEO Peter Bahnsuk Kim is quoted as saying.

Kim is cited as noting LG Chem expects a further four announcements by year-end. “In such [a] case, LG Chem will be able to secure more than ten global supply lines within this year,” he said.

 

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