Daimler AG has selected LG Chem as the supplier of lithium-ion batteries for the smart EV that will be newly launched in 2016. Under the contract, LG Chem will provide battery cells to smart EV; Daimler will assemble the cells into the vehicle packs.
By signing a supply contract with Daimler, LG Chem has become the world’s biggest automotive battery supplier, having at least 13 global automakers among the top 20 global brands. In addition to Daimler, top automakers Volkswagen, Ford, Hyundai, Renault, Audi, Chevrolet, Kia, and GM use LG Chem batteries for EV applications.
In November 2014, Daimler announced that it would cease production of Li-ion battery cells at its Li-Tec subsidiary in December 2015. At the time, Daimler manager Harald Kröger said that “Our cells are very good, but at current production figures far too expensive. We have realized that a car manufacturer does not have to produce the cells themselves.” (Earlier post.)
The current smart fortwo electric drive uses a 17.6 kWh Li-ion battery to power a 55 kW electric motor delivering 130 N·m of torque with a range of 145 kilometers (90 miles)
LG Chem had been invited to the Supplier Day hosted by Daimler in Stuttgart, February. LG Chem was the only lithium-ion battery maker invited to participate at the event and had the chance to discuss core strategies with numerous automotive partners of Daimler Group.
LG Chem’s will continue to lead the EV battery market with differentiated technology to make us stand up as global No. 1 battery manufacturer.—Young Soo Kwon, President of LG Chem
The market research firm B3 recently forecast the EV battery market to grow up to US$18.24 billion by 2020.