LG Chem to supply electric vehicle batteries to Volkswagen

SEOUL, March 21 (Yonhap) -- LG Chem Ltd., South Korea's top chemicals company, said Wednesday that it has been selected as a supplier of electric vehicle batteries to German carmaker Volkswagen.

"We have received a letter of intent, though we have yet to sign a formal deal," an official of LG Chem said, without giving any further details.

Currently, the South Korean company is a key supplier of batteries to U.S. auto giant General Motors, Volvo, Renault, as well as South Korea's largest carmaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp.

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