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LG Chem to Supply Li-ion Battery Packs to Volvo Cars

Yonhap. LG Chem Ltd. said it has been picked as a provider of lithium-ion battery packs for electric vehicles by Volvo Cars Corp. The company did not disclose when it would start providing the packs.

LG Chem has signed a deal to provide electric vehicle batteries to five companies so far—South Korea’s top carmaker Hyundai Motor; CT&T Corp., a South Korean maker of electric cars; China’s third-largest carmaker Chang’an Automobile Group; Eaton Corp., a US commercial vehicle components maker; and US automaker General Motors Corp.

“LG Chem predicts that it will sign four additional deals to supply the EV batteries at the end of this year,” Peter Bahnsuk Kim, a vice chairman of the company, said in a statement.

Comments

sulleny

Good news for the EV business. But we would like to see LG's GM relationship roll over to GM manufacturing. Since the US market will be the largest for EVs for the immediate future, LG should consider building a materials manufacturing plant somewhere onshore.

HarveyD

Isn't LG planning to build a battery plant in Mich.?

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