LG Chem will now advance into the Japanese market for secondary batteries for electric vehicles.
The Nihon Keizai Shimbun Sunday said Mitsubishi Motors and LG Chem are jointly developing a lithium-ion battery system for electric vehicles. Mitsubishi was the seventh largest maker of finished sedans in Japan last year.
LG Chem already has similar deals with GM and Ford in the U.S., Volvo in Europe and Changan Automobile in China.
According to an industry insider, the two firms are developing a technique of installing power control and crash safety devices on the lithium-ion batteries made by LG Chem.
The new batteries will most likely be used for electric vehicles that Mitsubishi will release in 2012 or some models of new plug-in hybrids it will introduce in 2013.
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