Samsung SDI, Bosch Form Joint-Venture Battery Deal

June 17, 2008
Production to start in 2010

Samsung SDI said June 16 it would launch a joint venture with Germany's Bosch Corp to produce batteries for hybrid vehicles. The deal signed last week called for the 50-50 joint venture known as SB LiMotive to start production in 2010, it said in a statement.

A Samsung SDI spokesman said the venture would start with $20 million of initial capital and that $500 million would be invested over four or five years.

The South Korean firm said the hybrid vehicle market would grow rapidly in the future amid soaring oil prices and tougher environmental rules.

Samsung SDI, part of the Samsung Group, has been producing batteries largely for computers, mobile handsets and other electronic goods as well as flat display screens. Bosch is a global leader in automobile components.

Copyright Agence France-Presse, 2008

Popular Sponsored Recommendations

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

You Cannot Stay Competitive by Bolting New Technologies to a Legacy ERP

Oct. 20, 2023
Read this white paper to understand the benefits of shifting to a next-generation ERP system as part of a DOP.

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!