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.

CONTINUE READING ON english.yonhapnews.co.kr