LG Chem clinches lithium-ion battery contract for the e-Smart

March 31, 2015 // By Paul Buckley
South Korea's LG Chem says the company has signed a deal with Germany's Daimler AG to be the sole  lithium-ion battery supplier for the car maker's new model of its compact Smart electric vehicles, which will be launched in 2016.

EVs account for a small portion of the 100,000 or so Smart cars sold each year.

LG Chem, which is also an EV battery supplier for General Motors and Renault SA, said it will provide Smart EV battery cells, which will be made into packs by
Daimler's wholly owned subsidiary Deutsche ACCUmotive.

LG Chem's currently supplies EV battery packs to 13 of the top 20 car manufacturers.

Daimler revealed in 2014 that the company would halt production of its in-house battery cells and use LG Chem cells for its electric and hybrid vehicle batteries as
well as for stationary storage solutions.

“LG Chem’s battery business and technology have been acknowledged worldwide once again as our products are continuously being installed by major automobile makers from their commodity brands to premium vehicles”, said Young Soo Kwon, the President of Energy Solution Company, LG Chem.  “LG Chem’s will continue to lead the EV battery market with differentiated technology to make us stand up as global No.1 battery manufacturer.”

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