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LG Chem to Develop Lithium Battery for HEVs
LG Chem Ltd. of Seoul, Korea, has secured a $4.6
million contract to develop advanced lithium-ion
polymer battery cells for hybrid electric vehicles
(HEVs) from the United States Advanced Battery
Consortium (USABC), reports The Chosun Ilbo.
USABC was formed in 1991 by DaimlerChrysler Corp.,
Ford Motor Co. and General Motors Corp. to develop
battery cells for next generation eco-friendly
vehicles such as HEVs or fuel cell cars.
LG Chem, Korea’s largest chemical company,
plans to develop highly advanced lithium-ion polymer
battery cells by August 2005. Depending on the
outcome, it will proceed into the second phase
of the project to develop high-tech battery packs
for vehicles. The market for large battery cells
for HEVs is expected to top 2 trillion won by
2010.
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