Continental AG and SK Innovation to Develop Lithium-Ion Battery Technology

Reuters reported that Continental AG (FRA:CON) and SK Innovation Co Ltd (KRX:096770) have decided to invest in a joint venture to develop lithium-ion battery technology for electric cars.

As quoted in the market news:

Continental currently forecasts pure battery-driven cars will make up 1 to 2 percent of global new car demand by 2020, with another 8 to 9 percent being hybrids.

Click here to read the full Reuters report.