SB Li Motive, the Bosch Samsung lithium ion battery joint venture, has announced that it will put $409 million into its manufacturing facilities over the next five years. The company has big plans, hoping to grab nearly a third of the automotive battery market by mid-decade. Bosch is the biggest automotive supplier in the world and produces parts for almost every automaker. However, SB LiMotive is competing with quite a few companies in the lithium battery space, many of which are partnered with automakers such as Panasonic EV Energy (Toyota), Automotive Energy Supply Corp (Nissan), GS Yuasa (Mitsubishi, Honda) and LG Chem (General Motors).

The new SB LiMotive plant is being built in Ulsan South Korea and production is expected to start in 2011. The first automaker to publicly announce a deal with SB LiMotive is BMW which will use its batteries in an upcoming electric vehicle.

[Source: Automotive News - sub req'd]

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