ID :
105730
Wed, 02/10/2010 - 10:40
Auther :
Shortlink :
https://www.oananews.org//node/105730
The shortlink copeid
Hyundai Mobis, LG Chem launch car-battery joint venture
SEOUL, Feb. 10 (Yonhap) -- Hyundai Mobis Co., a South Korean auto-parts maker, said Wednesday it has launched a joint venture with LG Chem Ltd. to produce lithium-ion car batteries.
The venture, named HL Green Power Co., is expected to start production in the
second half of this year, Hyundai Mobis said in a statement.
The 29 billion won (US$25.1 million) venture is 51 percent owned by Hyundai
Mobis, with LG Chem, the nation's biggest chemicals maker, holding the remaining
stake.
Hyundai Mobis and LG Chem will build a factory in the city of Uiwang, near Seoul,
where the auto-parts maker has a plant for hybrid cars.
The factory plans to produce battery packs for 200,000 vehicles a year, according
to the statement.
By 2014, Hyundai Mobis and LG Chem plan to spend a total of 46 billion won to
increase the factory's annual capacity to 400,000 battery packs, the statement
said.
The venture, named HL Green Power Co., is expected to start production in the
second half of this year, Hyundai Mobis said in a statement.
The 29 billion won (US$25.1 million) venture is 51 percent owned by Hyundai
Mobis, with LG Chem, the nation's biggest chemicals maker, holding the remaining
stake.
Hyundai Mobis and LG Chem will build a factory in the city of Uiwang, near Seoul,
where the auto-parts maker has a plant for hybrid cars.
The factory plans to produce battery packs for 200,000 vehicles a year, according
to the statement.
By 2014, Hyundai Mobis and LG Chem plan to spend a total of 46 billion won to
increase the factory's annual capacity to 400,000 battery packs, the statement
said.
