LG Chem wins order from Audi to supply batteries for plug-in hybrids

Article by Andrew Christian, on August 24, 2014

LG Chem disclosed that Audi is ordering batteries for its growing plug-in hybrid car lineup. According toi the South Korean battery maker, the supply agreement was valued at “hundreds of millions of dollars." It added that it is expected to win similar orders from Volkswagen Group in the future. The company already boasts of 20 customers, including General Motors.

LG Chem is targeting to reach combined sales of over KRW10 ($9.8 billion) from large-sized batteries by 2018. Audi commenced selling the A3 Sportback e-tron -- its first plug-in hybrid -- in June and is planning to introduce at least three more plug-in hybrid models, according to a report from Automotive News Europe reported.

Audi is planning is start selling the A3 Sportback e-tron in the United States in the second or third quarter of 2015, and in China in the first or second quarter of next year.

Audi is hoping that versatility of plug-in hybrids -- which can be driven independently by an electric motor or a conventional engine – to appeal to people looking for environmentally friendly vehicles.

Audi plans to launch next year a plug-in hybrid variant of the Q7 SUV. It will then launch plug-in hybrid versions of its flagship A8 model and an A6 long-wheelbase sedan for China.

Topics: audi, plug-in hybrid

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