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The United States Advanced Battery Consortium (USABC) – a research collaboration between Chrysler, Ford and General Motors – has awarded LG Chem Power a $9.62-million development contract to focus on reducing the cost of lithium-ion battery packs for plug-in hybrid vehicles with 40 miles of electric-only range (PHEV 40).

The contract calls for LG Chem to attempt to develop a 40-mile battery pack for PHEVs that meets the USABC's performance requirements, while driving down the cost to automakers to the $3,400-mark set by the USABC. This latest contract marks LG Chem's fourth deal with USABC.

USABC is a subsidiary of the United States Council for Automotive Research (USCAR). Enabled by a cooperative agreement with the U.S. Department of Energy, USABC's mission is to develop energy storage technologies to advance the commercialization of hybrid, electric and fuel cell vehicles.

[Source: USCAR]
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USABC awards LG Chem Power a development contract to focus on reducing Li-ion PHEV 40 pack cost

The United States Advanced Battery Consortium LLC (USABC) has awarded LG Chem Power Inc. (LGCPI) a development contract valued at $9.62 million; the program aims to make significant strides toward achieving the USABC goals for PHEV (plug-in hybrid electric vehicle) 40-mile battery pack system performance requirements while driving down the cost to automakers toward the USABC goal of $3,400.

This latest award marks the company's fourth development contract with USABC.

USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR), the collaborative automotive technology company for Chrysler Group LLC, Ford Motor Company and General Motors. Enabled by a cooperative agreement with the US Department of Energy, USABC's mission is to develop electrochemical energy storage technologies that support commercialization of hybrid, electric and fuel cell vehicles.