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LG Chem to supply electric vehicle batteries to Volkswagen

All Headlines 18:23 October 04, 2018

SEOUL, Oct. 4 (Yonhap) -- LG Chem Ltd., South Korea's top chemicals company, said Thursday that it has been tapped as a supplier of electric vehicle batteries to German carmaker Volkswagen.

"We plan to supply electric vehicle batteries" to Volkswagen, beginning at the end of 2019, the company said in a regulatory filing with the Financial Supervisory Service.

LG Chem said the number and prices of the batteries to be supplied are fluid due to orders needing to be placed and market conditions.

Currently, the South Korean company is a key supplier of batteries to U.S. auto giant General Motors, Volvo, Renault, as well as South Korea's largest carmaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp.

LG Chem operates electric vehicle battery plants in South Korea, China, the United States and Poland.

LG Chem's corporate logo (Yonhap)


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