South Korea Becoming Hotbed of Lithium Battery Production for Hybrids, EVs
South Korea is rapidly becoming lithium-ion central.
In support of the national government's encouragement of alternative green-vehicle production there, South Korean component giant Hyundai Mobis and battery maker LG Chem are discussing a joint venture to build batteries for hybrids and electric vehicles and, according to a report in AsiaPulse, could announce a deal early next month.
Additionally, Samsung SDI and German parts and components giant Robert Bosch have inked an agreement to build a joint-venture lithium-ion battery plant in Ulsan, South Korea's industrial center.
The country's Ministry of Knowledge Economy said the joint venture, called SB LiMotive, signed a memorandum of understanding with the Ulsan city government earlier this week and that construction of the battery plant should begin in September with the plant slated to begin operation in 2011.
The race among South Korea, China, Japan and late-starting U.S.A. to become leading suppliers of advanced batteries should help lower battery costs as volume increases.