South Korean battery-maker LG Chem has signed a new deal with Chinese automaker Chery Automobile, reports Yonhap News Agency. According to the report, LG Chem will supply the batteries for Chery's next-generation electric vehicles (EVs). The company is planning to begin mass production of batteries in 2016 at a new plant in Nanjing that is expected to have an annual production capacity of 100,000 units.
Significance: LG Chem has already entered into battery deals with Chinese-based automakers SAIC, Qoros, Great Wall Motors, FAW Group, and Changan Automobile. The company's decision to establish an EV battery plant in Nanjing is aimed at strengthening its position in the region by serving local and global automakers in the country.
