The companies Samsung SDI and SK Innovation consider to establish additional joint ventures with their clients in Europe to provide stable supply sources for electric vehicle batteries.
In the case of a potential battery recall, who is responsible for the possible problems is a top consideration. Once legal risks are fully addressed,
It will be possible for battery makers to establish joint ventures with automakers and I would say that scenario would be applicable for Samsung SDI’s long-term plan to set up one with BMW,” said by the one of the sources.
LGES (LG Energy Solution) is all set to announce a joint battery venture with Hyundai Motor in Indonesia after reaching a understanding with Indonesian government regarding, water and electricity supplies and tax benefits.
Global Banks has forecasted that Korea’s battery makers would underperform in the coming years and lowered their price target.
SK Innovation recently announced its plan to create the BlueOvalSK joining venture with Ford of the United States.
About SK Innovation
SK Innovation is a South Korean enterprise found in 2007, it is a subsidiary of SK Corporation. In the year 2011 the petroleum business turned off to become SK Energy.
SK Energy is an energy and petrochemical company with 5,000 employees, KRW 23.65 trillion in sales and 26 offices spanning the globe.
The company is Korea’s largest (and Asia’s fourth largest) refiner with a refining capacity of 1.15 million barrels per day, as of 2006. SK Energy is engaged in exploration and development activities in 26 oil / gas blocks in 14 nations worldwide.
