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Renault inks battery deal with S. Korea’s LG Chem

French auto giant Renault has signed an agreement with South Korean chemical firm LG Chem to jointly develop batteries for its electric cars, company officials said Wednesday.

A memorandum of understanding was signed in Seoul on Tuesday by Thierry Bollore, Renault’s chief competitive officer, and LG Chem president Kwon Young-Soo, an LG spokesman told AFP.

“LG will develop new batteries for next-generation electric vehicles to be produced by Renault,” the spokesman said, declining to say whether the lithium ion batteries could be used for other vehicles.
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