BMW Chooses Korean Batteries for New Electric Car
A new electric car being developed by BMW will be powered by Korean-made batteries. Samsung SDI announced Monday that SB LiMotive, a joint venture between the Korean company and German auto parts maker Bosch, will be the exclusive battery supplier for BMW's next-generation electric vehicle.
BMW plans to build prototypes of the electric vehicle next year and begin mass-producing it in 2013. SB LiMotive will supply BMW with lithium-ion batteries for the car from 2013 until 2020.
SB LiMotive plans to set up dedicated production lines for electric car batteries either in Cheonan or Ulsan. The location will be finalized in September or at the end of this year at the latest, a spokesman at Samsung SDI said.
Experts believe BMW chose the Korean company because of Samsung SDI's unmatched competitiveness in building lithium-ion batteries. Samsung SDI ranked top among the world's leading battery makers in a competitiveness assessment of secondary batteries conducted by Japanese market researcher IIT in March and September last year.
Norbert Reithofer, CEO of BMW, said he believes SB LiMotive will provide top-quality products and service since the venture combines German automotive parts expertise with Korean electric battery know-how.