LG Chem wins battery order from Audi for plug-in hybrid cars

South Korea’s LG Chem (051910.KS) said on Wednesday it had won an order from Audi (VOWG_p.DE) to supply batteries for its plug-in hybrid and micro hybrid electric vehicles.

LG Chem said the deal was “worth hundreds of millions of dollars” but declined to give further details. It said it expected to win more such orders from Audi parent Volkswagen AG (VOWG_p.DE) in the future.

The company, which has secured a total of 20 customers including General Motors (GM.N), also it aims to achieve combined sales of over 10 trillion Korean won ($9.8 billion) from large-sized batteries by 2018.

– Reuters