Korean battery-maker LG Chem has made a deal with China’s Great Wall Motor to supply lithium-ion batteries for the carmaker’s upcoming plug-in hybrid SUVs, which are scheduled to go into production in 2017.
LG Chem has extended its cooperation with Chinese carmakers in recent years, and with the Great Wall deal, the company says that combined unit orders in China now total over 200,000.
LG Chem plans to ramp up Chinese production with a new plant in Nanjing that’s due for completion this year, and is expected to have an annual production capacity of 100,000 units.
“With the latest deal, LG Chem has secured the largest clientele among global battery-makers in the Chinese market,” said battery business chief Kwon Young-Soo. “We will be able to bolster our No. 1 position from 2016 when the electric car market gets on track for growth.”
Source: Korea Herald