Continental and SK Innovation team on lithium-ion batteries

  • 16-Jan-2012 08:40 EST
Testing Battery Cell.jpg

A worker performs cell testing at SK Innovation.

As part of the North American International Auto Show in Detroit, officials of SK Innovation and Continental Corp. on Jan. 10 signed an agreement to form a joint venture in lithium-ion batteries. The JV will develop, manufacture, and market the batteries globally. SK will supply Li-ion cells to the JV while Continental will supply battery-management electronics and its overall automotive systems competence. SK Innovation will have 51% ownership, Continental 49%. Initial operations will be based in Germany and Korea. The management team will be composed of executives from both companies, and the JV is subject to the completion of additional agreements, which are expected to be achieved by mid-2012.

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