Korea LG Battery Enters Changan New Energy Vehicle

One of South Korea's three major groups, LG Group Vice President Jin Yushi’s two-day trip to Chongqing was very enjoyable. He brought the latest 55-inch LCD TV to Changan Automobile as a ceremony and received a pair of glass auspicious rabbits rewarded by Zhang Baolin, president of Changan Automobile. Yesterday, Jin Lanshi also took away a strategic cooperation agreement with Changan Automobile to jointly develop new energy vehicles. Ren Yong, general manager of Chang'an New Energy Automobile, said that LG's advanced lithium-ion battery will be installed on Chang'an, and the two sides are still discussing whether or not to establish a joint venture.

Yesterday, Jin Yushi and his party visited Changan Automobile and signed a strategic cooperation agreement with Changan Automobile to develop a lithium-ion battery system for automobiles. Ren Yong said that there are many forms of cooperation between Changan Automobile and LG. If LG establishes a wholly-owned factory in Liangjiang New Area, it will only be used for Chang'an's new energy vehicles; if it establishes a joint venture, Chang'an will use this to enter the lithium battery industry.

According to reports, LG Chemicals, which is part of the LG Group, is the largest chemical company in Korea. In 2009, it became the first company in the world to mass-produce lithium-ion battery systems, winning the orders of GM and South Korea. LG Chemicals has extensive experience in the development of lithium-ion battery systems for hybrid vehicles and pure electric vehicles.

Ren Yong said that at present, the sales of Changan New Energy Automobiles accounted for more than 50% of the national sales, leading the demonstration of new energy passenger vehicles across the country. As of 2010, the company has developed and launched 8 new energy automotive products, including Benben Love, Benben Mini pure electric, Zhixiang oil and electricity, Jiexun oil-electric hybrid, and Zhixiang fuel cell. "This year, we have a project code-named C303 will also be off the assembly line in Beijing, this is a pure electric B-class car." Ren Yong said.

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