27 Jul '11, 1pm

LG Chem awarded $9.62 million to drive down cost of plug-in hybrid battery packs

USABC awards LG Chem Power a development contract to focus on reducing Li-ion PHEV 40 pack cost The United States Advanced Battery Consortium LLC (USABC) has awarded LG Chem Power Inc. (LGCPI) a development contract valued at $9.62 million; the program aims to make significant strides toward achieving the USABC goals for PHEV (plug-in hybrid electric vehicle) 40-mile battery pack system performance requirements while driving down the cost to automakers toward the USABC goal of $3,400. This latest award marks the company's fourth development contract with USABC. USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR), the collaborative automotive technology company for Chrysler Group LLC, Ford Motor Company and General Motors. Enabled by a cooperative agreement with the US Department of Energy, USABC's mission is to develop electrochemical ene...

Full article: http://green.autoblog.com/2011/07/27/lg-chem-awarded-9-62...

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