Bosch and Samsung to team up on battery development
The new company will set up shop in South Korea with operations expected to start in September of this year. Bosch and Samsung will each own 50 percent of the new company and have equal representation in management. The new JV will focus on the development and commercialization of lithium ion batteries for automotive applications. Samsung SDI has already been producing lithium cells for consumer electronics and power tools while Bosch has expertise in the power electronics and battery management systems. The companies have not indicated what types of battery chemistry they intend to pursue or when the JV will begin producing automotive batteries.
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