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Business

LG Chem looks to supply batteries for Nissan's electric cars

SEOUL -- LG Chem is hoping to clinch a contract to supply next-generation batteries to Nissan Motor, the world's largest manufacturer of electric vehicles.

     The South Korean chemical giant already has contracts to supply batteries to over 20 automakers. But adding this Japanese carmaker to its customer list will enable it to boost production, become more cost competitive and gain the upper hand in the battle to set the standard for next-generation batteries.

     No details have been revealed about when LG Chem might begin to supply Nissan with batteries and in what volume. It may provide Nissan with just the core components for the batteries.

     Nissan currently uses lithium-ion batteries developed by Automotive Energy Supply, a company it formed in partnership with NEC.

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