Samsung SDI to develop EV battery with U.S. carmakers

Reuters reports that on Thursday, Samsung SDI (SEO:006400) announced that a subsidiary of the company’s joint venture SB LiMotive was chosen to develop advanced batteries for electric cars with a U.S. consortium.

The market news is quoted as saying:

In a three-year period, the United States Advanced Battery Consortium (USABC) will jointly develop high-energy lithium-ion batteries with Samsung’s joint venture with Germany’s Robert Bosch [ROBG.UL]. A unit of Samsung’s joint venture will support half of the $8.4 million investment for development, Samsung added.

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