LG Chem to provide lithium ion batteries to Renault

LG Chem will provide batteries produced at a plant in South Korea to the French automaker, the company said. The deal with Renault SA increases the number of companies supplied with batteries by LG Chem to nine, including South Korea’s top automaker Hyundai Motor Group and Sweden’s Volvo Cars Corp., according to LG Chem.

The company will reportedly build a battery plant in Europe to make it easier to provide batteries to Volvo and Renault. LG Chem is building a plant in the United States.

LG Chem predicts that it could provide an additional two or three companies with its batteries by the end of the year.

LG Chem, Ltd. is Korea’s largest chemical and rechargeable battery maker in terms of both size and performance. The company’s chemical business is vertically integrated and manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as rechargeable batteries and the display materials field.