LG Chem Signs Deal to Supply EV Batteries to Volvo
16 May, 2019
LG Chem signed a deal to supply batteries for Volvo's electric vehicles, it said on Wednesday.
Volvo plans to stop developing gasoline-powered vehicles within this year and instead will increase production of electric vehicles by up to 50 percent by 2025.
LG Chem will supply lithium-ion batteries for Volvo's next-generation cars including its high-performance EV brand Polestar from as early as 2021.
Volvo is reportedly impressed by LG Chem's LongCell batteries, which have greater capacity and allow for longer drives per charge, as they are 60-percent longer than standard 35-cm batteries.
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