LG Chem Signs Deal With Chinese Automaker Changan

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1,361 views Feb 11, 2010

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LG Chem. is quickly becoming one of the world's largest suppliers of lithium-ion batteries for advanced vehicles.  Now they can add Changan Automobile to the growing list of automakers that they supply batteries to.  The list includes General Motors and Hyundai right now, but the company is also in talks with Ford.

LG Chem. will begin supplying the li-ion battery packs to the China based Changan Automobile company later this year.  The batteries will likely see use in the Zhixiang EV that the company will release in its home country later this year.  In addition to supplying batteries for their upcoming EV, LG Chem. may also supply li-ion batteries for the company's existing and future hybrids as they move away from nickel-metal hydride batteries.

The Korea Times is reporting that the automaker expects to changeover existing hybrids as well as future hybrids and EV to the more desirable li-ion technology in a move that could put them ahead of the competition.

The deal between LG Chem. and Changan will be LG's first official battery supply contract with a Chinese Automaker.

At this time, neither company has released specifics about the actual deal.  There is no mention of the value of the deal, nor any mention about the total battery amount that LG Chem. will supply to Changan.

Source:  Edmunds.com