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LG Chem: No Battery Deal (Yet) with VW
LG Chem Ltd. denies a South Korean media report earlier today that the company has signed a 7 trillion-won ($6.2 billion) deal to supply batteries for Volkswagen AG electric cars.
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LG Chem Ltd. denies a South Korean media report earlier today that the company has signed a 7 trillion-won ($6.2 billion) deal to supply batteries for Volkswagen AG electric cars.
DongA Ilbo, which cites no sources, says LG will provide complete batteries for VW’s modular electric drive platform. LG says “no contract has been agreed on” but has not commented on whether it is in talks about such a contract.
Reuters notes that LG already supplies EV batteries to VW and other companies, including General Motors and Renault.
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