Posted on August 19, 2008 at 4:21 PM
Filed under: Deal International | Joint Ventures and Alliances | Law | Sector Watch | Trends
Tagged: Li-ion , lithium ion , Robert Bosch , Samsung , SB LiMotive

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Following an industry trend in the auto sector, in June, South Korea's Samsung SDI Co. Ltd. set up a $520 million joint venture with Germany's Robert Bosch GmbH to develop, manufacture and sell lithium-ion batteries for vehicles. On Monday, the 50-50 JV, SB LiMotive Co. Ltd., received approval from the European Commission. The JV is based in South Korea and due to start operations in September.

The partners plan to market the Li-ion batteries worldwide in 2011, around the same time a Nissan Motor Co.-Renault SA JV expects to move into worldwide production of electric vehicles, after first launching them in the U.S. and Japan.

Bosch likes alt energy. Last week, it closed a deal to acquire 50.45% stake in Ersol Solar Energy AG for €546.4 million ($847.1 million) in cash. Including other holdings and recent acquisitions, its share in the photovoltaics company is now 91.17%. - Baz Hiralal

Auto sector trend spotlighted
Samsung, Bosch in yet another battery JV


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