Agreement between Bosch and Samsung on lithium batteries

A new company has been set up only for applications in the automotive sector

After many agreements between hi-tech makers and suppliers for the development of lithium batteries, now it is the German group’s turn to come into play. The announcement was made by the Stuttgart company’s top executives, who have set up a joint-venture with the Korean Samsung for the development, sale and production of lithium-ion batteries. Called “SB LiMotive Co. Ltd”, the company, whose headquarters will be based in Korea, will start the production of batteries as from September 2008.

The capital will be equally shared between Bosch and Samsung; also the management boardas well as the board of directors will be equally represented by members from both companies.
The German group is attracted by this new business because of the interest shown by automakers in hybrid and electric cars, which, from ambitious prototypes to be exhibited in international shows, are becoming real cars, bound to change the car market.

The joint-venture between Bosch and Samsung will lead to the development of li-ion batteries only for the automotive sector and that will be possible thanks to the experience and competence gained by each company in the production of electronic devices, industrial electric motors, transformers and even domestic appliances. In 2007 Samsung SDI produced 376 million battery units and today it leads the market in the li-ion technology sector.