Green light for Bosch and Samsung's joint venture for battery development
In a brief press release (which you can find pasted after the jump) Bosch and Samsung have confirmed they have received the green light from German authorities to work on their project to produce lithium-ion batteries. The joint venture, called SB LiMotive Co. Ltd., will start work next month. Their plan is to produce "highly efficient lithium-ion batteries customized to automotive requirements and to market them worldwide from 2011." As we mentioned before, Samsung SDI has been producing lithium cells for consumer electronics and power tools while Bosch has expertise in the power electronics and battery management systems. Bosch, especially, has big dreams.
[Source: Bosch/Samsung]
Press Release
Authorities approve Bosch and Samsung joint venture for lithium-ion batteries
*Operations will start in September 2008
* Start of production of lithium-ion batteries planned for 2011
Stuttgart – In June 2008, Robert Bosch GmbH and Samsung SDI Co. Ltd. signed an agreement to form a fifty-fifty joint venture to develop, manufacture, and sell lithium-ion batteries for automotive applications. All the relevant authorities have now given their approval for the joint venture, the precondition to company closing. The company will be known as "SB LiMotive Co. Ltd.". Operations expected to start in September 2008. The objective is to series-manufacture highly efficient lithium-ion batteries customized to automotive requirements and to market them worldwide from 2011.
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