South Korea to mass produce plug-in hybrid vehicles

Local plug-in hybrid electric vehicles (PHEV) operated by electrically charged batteries are predicted to be mass-produced in South Korea in five years. The Ministry of Knowledge Economy disclosed that two project contracts were concluded between Hyundai Motor and three battery producers: LG Chemical, SK Energy and SB LiMotive, which will develop 16 kilometers (km) and 32 km PHEV battery systems. LG Chemical and SK Energy will be participating in the 16 km development project. Hyundai Motor will purchase battery systems from the selected chosen enterprise and begin mass productions for 16 km PHEV by 2013. (November 26, 2008)