Korean companies team up to develop car battery

The South Korean government and local companies have signed an agreement to collaborate in developing battery packs for plug-in hybrid vehicles and to develop Korea into one of the top four nations in terms of eco-friendly automotive technologies. The four companies taking part in the project are Hyundai Kia Automotive Group, LG Chem, SK Energy Co. and SB LiMotive. SB LiMotive is a joint venture between Samsung SDI Co. and the German car parts maker Robert Bosch GmbH that specializes in making batteries for hybrid electric vehicles. According to the agreement, the companies will compete with each other in developing battery packs and one will be eliminated based on the project proposals. The remaining companies will carry out a three-year project, the results of which will be used to select the final developer. Hyundai Kia Automotive Group will not be taking a direct part in developing the battery pack but it will buy the final product for use in the plug-in hybrid vehicle the carmaker plans to begin producing in 2013. Of the three candidate battery makers, LG Chem has the most experience in the field. (August 26, 2008)