(MENAFN) LG Chem Ltd., South Korea's leading chemicals and battery maker, has closed a deal to supply electric vehicle batteries (EV) to Changan Automobile Co., a top Chinese automaker.
The South Korean company will supply Changan Automobile Co. with batteries for its next-generation plug-in hybrid electric vehicle, which will start mass production next year.
LG Chem has already signed deals to supply electric vehicle batteries to two other top Chinese carmakers, emphasizing that the latest deal is estimated to help reinforce its market presence in China.
EV battery production line will launch with an annual capacity of 100,000 units at its factory in Nanjing within this year, the company stated.
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