SK Innovation and Continental team up on worldwide EV power

SK Innovation and Continental Corporation have announced their intention to team up for powering electric vehicles worldwide. A joint venture is to be formed through which both companies want to develop, manufacture and market Lithium Ion battery systems for automotive applications. SK Innovation and Continental will have 51% and 49% of ownership respectively. The initial JV operations will be based in Germany and Korea; and the management team will be comprised of executives from both companies. The busine
March 23, 2012 Read time: 2 mins
4222 SK Innovation and 260 Continental Corporation have announced their intention to team up for powering electric vehicles worldwide. A joint venture is to be formed through which both companies want to develop, manufacture and market Lithium Ion battery systems for automotive applications. SK Innovation and Continental will have 51% and 49% of ownership respectively. The initial JV operations will be based in Germany and Korea; and the management team will be comprised of executives from both companies. The business will serve automotive OEMs globally. The new joint venture is subject to the completion of JV agreements, which are expected to be achieved by midyear 2012.

"We are pleased to work together in such a key technology for future mobility. With Continental's automotive expertise and SK's battery leadership, we have confidence that the JV will become the market leader in battery systems," stated Dr. Jay Koo, CEO of SK Innovation.

"The JV is ideally positioned to become a technology leader in providing battery solutions to the automotive industry worldwide because both companies are technology leaders in their areas of expertise, and both share a common strategic perspective for future mobility. Together we will be a powerful team that will work together very effectively in a promising partnership," stated Dr. Elmar Degenhart, CEO of Continental.

The JV will focus on developing Li-Ion battery systems for automotive customers. SK Innovation will supply market leading lithium ion battery cells to the JV while Continental will supply Battery Management Electronics and its overall automotive systems competence. The newly formed entity will bring together leading experiences in developing battery systems for Hybrid Electric Vehicle (HEV), Plug-in Hybrid (PHEV) and Electric Vehicle (EV) programs at leading automobile manufacturers worldwide.​

Related Content

  • August 31, 2021
    Microgrids & the new power generation
    Public transportation agencies are turning to microgrids to provide critical resilience in the event of local and regional power interruptions. Gordon Feller looks at projects in Maryland, New Jersey and Massachusetts
    Read More
  • September 12, 2017
    Volkswagen Group announces electrification initiative with ‘Roadmap E’
    The Volkswagen Group is using the 2017 IAA international motor show in Frankfurt, Germany to launch its comprehensive electrification initiative, ‘Roadmap E’ and aims to have electrified its entire model portfolio by 2030 at the latest. The Group brands will bring a total of over 80 new electrified models to customers by 2025, including some 50 purely battery-powered vehicles and 30 plug-in hybrids. This figure will then increase over subsequent years until there is at least one electrified version for e
    Read More
  • April 23, 2012
    VW presents electric mobility research
    Volkswagen, in cooperation with six project partners and the German Ministry of the Environment, is presenting the current status of the ‘Fleet study in electric mobility’ that was initiated in July 2008. The primary goal of the project, which runs until June 2012, is to consistently utilise renewable energy sources for electrically powered vehicles. Within the framework of the fleet study, Volkswagen is using a total of 20 of the latest generation Golf Variant TwinDrive cars as research vehicles.
    Read More
  • December 16, 2014
    Dynamic charging boosts electric vehicles’ potential
    With an increasing need to use electric vehicles in city centres to reduce pollution, David Crawford looks at various solutions to power delivery. The UN’s September 2014 Climate Summit has added fresh momentum to the drive to increase urban electric vehicle (EV) takeup. It has launched the Urban Electric Mobility Initiative, which wants to see EVs accounting for 30% of all urban travel by 2030, and make cities worldwide more friendly to their use. Encouragingly, the plan is being well supported by commerci
    Read More

Highlighted Content