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

  • May 3, 2019
    Gearing up for the global electric vehicle revolution
    As transport, communications and energy networks become inextricably linked, policy makers are recognising the implications for our built environment – and the growing electric vehicle market will have a major impact on the world’s infrastructure, says Rolton Group’s Chris Evans
    Read More
  • April 22, 2015
    Long-range electric vehicles ‘set to gain popularity globally’
    According to new analysis from Frost & Sullivan, the global electric vehicles (EV) market has made huge progress, with more than 55 models now available globally. Currently, over 70 per cent of the models on the market are battery EVs (BEVs) and approximately 25 per cent are plug-in hybrid EVs (PHEVs). Nevertheless, the number of PHEVs is likely to increase over the next three to four years. The market will see greater demand for longer-range vehicles that allow customers to drive up to and past the pure EV
    Read More
  • May 25, 2012
    Grant to fund commercialisation of PbC batteries for micro-hybrid vehicles
    Axion Power International, the developer of advanced lead-¬carbon PbC batteries and energy storage systems, has been awarded a US$150,000 grant from the US Department of Energy (DoE) to fund a commercialisation plan for the use of its PbC batteries in a low-cost, high-efficiency dual battery architecture for micro-hybrid vehicles.
    Read More
  • March 1, 2012
    Continental enhances EV safety
    Continental, the international automotive supplier, has developed a system for electric and plug-in hybrid vehicles which will immediately shut off the high-voltage battery in the event of a collision, enabling emergency service personnel to come to the aid of accident victims without the risk of suffering an electric shock.
    Read More

Highlighted Content