Bosch, Samsung to Form Hybrid Battery JV

Rising fuel costs have prepared fertile soil for hybrid vehicles to enter the motoring mainstream, and this in turn is creating an unprecedented demand for lithium-ion batteries, the fuel cell of choice for hybrids. To meet this anticipated surge in demand, Robert Bosch GmbH and Samsung SDI Co. Ltd. are establishing a development, manufacturing and sales joint venture. The new South Korea based company is to be named “SB LiMotive Co. Ltd.” and will start operations in September 2008.

Each company will hold a 50 per cent shareholding and be equally represented on the board of management and on the board of directors. The venture’s foundation is, adds Bosch, still subject to approval by antitrust authorities.