LG Chem to supply batteries for Ford hybrids
Exact battery sales by South Korea's No.1 chemicals company will depend on how many cars the U.S. No.2 automaker sells, the Maeil business newspaper reported, quoting a company official.
"The size and condition of the deal with Ford is similar to the one with GM," the official said at the paper.
LG Chem's U.S. unit has reached a deal to supply next-generation lithium-ion batteries for General Motors' Volt plug-in.
A senior spokesman LG Chem said nothing had been decided yet.
LG Chem last year said it would invest 1 trillion won in an electric car battery plant over the next four years, aiming to derive total revenue of 2 trillion won from the battery business by 2015.
LG Chem last year also said it would set up a battery joint venture with South Korea's Hyundai Mobis Co, the car-parts making unit of Hyundai Motor Group. Hyundai Motor Co launched its first hybrid car in South Korea last July.
Related News
BC Hydro rates going up 3 per cent
VANCOUVER - The B.C. Utilities Commission has rejected a request by the provincial government to freeze rates at BC Hydro for the coming year, meaning a pending rate increase of three percent will come into effect, April 1, 2018.
BC Hydro had asked for the three per cent increase, but, last year, Energy Minister Michelle Mungall directed the Crown corporation to resubmit its request in order to meet an NDP election promise.
"After years of escalating electricity costs, British Columbians deserve a break on their bills," she said at the time.
However, the utilities commission found there was "insufficient regulatory justification to approve…
