Korea’s LG Chem says it has signed a major contract to supply batteries for Audi’s plug-in hybrid and micro-hybrid electric vehicles, reports Reuters. It places the value of the contract at “hundreds of millions of dollars” and expects the deal will lead to even more business from Audi’s parent company, Volkswagen.
LG Chem currently has 20 major customers for its batteries, including General Motors, and it expects combined sales of its large size batteries to top $10 billion by 2018. LG is the second-largest manufacturer of EV and hybrid batteries, behind Panasonic and its partner Tesla Motors.
Meanwhile, Audi is leading the way forward for 48 volts electrical systems, called micro-hybrids. The extra voltage will make it possible to fit things like electric turbochargers to Audi cars that are not full hybrids in the future.
Audi has also promised to deliver e-tron plug-in versions of every vehicle in its lineup by 2020, which would certainly require a whole lotta batteries. Here’s hoping LG Chem is up to the task.