LG Chem To Supply Hyundai With Hybrid Electric Vehicle Batteries
LG Chem Ltd., a large South Korean chemical producer, announced that it has received an order to exclusively supply rechargeable hybrid car batteries to the Hyundai Motor Co.. The financial terms of the deal were not disclosed. LG Chem released a statement announcing that it will supply lithium-ion polymer batteries to Hyundai Motor, which is planning to mass-produce hybrid vehicles in 2009.
"The order proves our technological competitiveness in rechargeable batteries for cars," stated LG Chem Vice Chairman Kim Ban-seok.