'LG Batteries For Tesla-wannabe.cn(FaradayF)'
Battery For ‘Chinese Tesla’
20 September 2016 Cho Jin-young
(cgi) Image view of a manufacturing facility to be built by Friday Future
in North Las Vegas, Nevada
LG Chem to Supply Batteries for China’s Faraday Future
Image view of a manufacturing facility to be built by Friday Future in North
Las Vegas, Nevada
According to battery industry sources on September 19, LG Chem, one of the
world’s largest electric vehicle (EV) battery makers, has reportedly struck
a large supply deal with Faraday Future, the EV business arm of Chinese
internet firm LeEco.
Faraday Future, which debuted earlier this year at the CES 2016 in Las
Vegas, unveiled an EV prototype boasting a top speed of 320 kilometers per
hour, emerging as a competitor for Tesla Motors, the world leader in
electric cars. The company is headquartered in California but it is a firm
invested by LeEco, one of the largest online video companies in China.
The industry expects that LG Chem will supply lithium-ion batteries to power
a mass-produced model of the LeSEE, an electric sedan released in April by
LeEco. Faraday Future will reportedly manufacture the vehicle on behalf of
LeEco. In this regard, an official from LG Chem said, “We cannot clarify our
customer information of EV batteries.”
LG Chem completed a EV manufacturing factory in Nanjng, China, in October
last year, establishing the foothold to supply a large amount of batteries
to China’s EV firms. The plant currently can roll out 50,000 EV units per
year. The company now plans to expand the annual production capacity to
200,000 units by 2020. Faraday Future intended to construct a fully
assembled car production plant in the U.S. earlier but failed to do so.
Accordingly, the company is reportedly planning to build a new EV plant in
Huzhou, Zhejiang Province of China.
[© BusinessKorea Co]
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