update 1-hyundai mobis, lg chem to set up battery jv - lithium ion polymer battery
* Lithium production by joint venture-
Ion battery pack for hybrid cars * modern Mobis shrs dive after trading in modern car shrs (
Add details of the transaction, background, stock)
SEOUL, Aug 31 (Reuters)-
Modern Mobis Corporation of Korea (012330. KS), the car-
Hyundai Motor Group's parts manufacturing department said Monday it plans to establish a battery joint venture with LG Chem (051910. KS).
Hyundai Mobis signed a memorandum of understanding with China's No. 1 LG Chem
A chemical company, a company that develops and produces lithium
Ion battery pack for top hybrid cars in Korea-
Parts Manufacturers said in a document submitted to the Korean exchange.
Financial details of the transaction have not yet been disclosed.
In June, LG Chemical said it would invest 1 trillion won over the next four years to build an electric vehicle battery plant.
It aims to earn a total revenue of 2 trillion won from the battery business in 2015. [ID:nSEO150729]Its U. S.
Units are also offering deals for the next supplier
Lithium generation-
Ion battery for GMGM. UL]Volt plug-in.
Hyundai Motor Corporation (005380. KS)
Launched its first hybrid in South Korea in July, and began selling the Elantra LPI, a hybrid model of a popular compact sedan using liquefied petroleum gas (LPG)and lithium-
Ion polymer battery[ID:nSEO339458]
Hyundai will launch its first gasoline-
An electric hybrid, a version of the second half of 2010's flagship Sonata.
Samsung SDI Co, another Korean rechargeable battery manufacturer (006400. KS)
In partnership with Robert Bosch of Germany, it runs a car battery business called SB LiMotive.
SB LiMotive will set up a factory in South Korea in 2011 to start producing car batteries.
Shares of modern Mobis fell 9.
At 86% of 132,500 won, far below 1.
The market fell 0%.
KS11 announced on Friday that it had acquired shares of Hyundai Motor worth 1.
34 trillion won ($1. 08 billion)
From modern steel (004020. KS). [ID:nSEO241765]
LG Chem fell 1.
05% to 188,500 won(
Report by thousand minuteswoo;
Editor Muralikumar Anantharaman)
A typical selection for running the hyperlink motor products are commonly a LiFePO4 battery bunch (Lithium-Iron-Phosphate).
E-bikes are becoming popular being an environmentally friendly and also wholesome means of almost sweat-free carry.
Lithium Iron Phosphate (LiFePO4) Batteries that are launched providing 96.
Maybe the most important part.
Acid batteries are developing new battery types to boost fuel growthEfficient, stop
Start technology
The car engine turns off when the vehicle is not moving, but when the driver steps down the throttle, the engine starts automatically.