SEOUL, KOREA - Renault Samsung Motors said on May 21 that France's Renault Group and auto battery maker LG Chem signed a strategic alliance deal to strengthen their R&D capabilities in next-generation electric car batteries. More specifically, the two companies will work on lithium-ion battery development for long-distance driving.
Thierry Bollore, the Chief Competitive Officer of Renault Group, and Kwon Young-soo, LG Chem's battery division head, met on the same day at LG Group's headquarters building in Seoul and signed a partnership agreement to work together in the area of battery development. Under the terms of the agreement, Renault will mount the high-density battery developed by LG Chem on an EV to be developed in the future.
Mr. Bollore said, "We will get one step closer to realizing our electric vehicle business objectives through the joint battery development project with LG Chem. Through Renault Samsung, we will keep making important contributions to the Korean automobile industry."
With the latest deal, the number of car makers that use electric vehicle batteries supplied by LG Chem has become five, including Hyundai and Kia, GM, Volvo, and Ford, as well as Renault.
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