Lithium Ion Knocking On the Door
Automotive News reported this week Bosch and Samsung have formed a joint venture to make lithium ion batteries for hybrid vehicles. The plan calls for investments of $20 million initially, and an additional $500 m over the next 4 to 5 years. The goal is to eventually capture 30% of the hybrid vehicle battery market.
The location for a plant has not been decided, though the plan is to initially produce battery cells and power packs by 2011.
Samsung presently makes li-ion batteries for computers and consumer electronics.