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.