Sunday, March 2, 2014

Ford may buy Samsung batteries for its electric cars.

WorldWide Tech & Science. Francisco De Jesùs 

The source said a deal with Ford will help Samsung SDI, an affiliate of Samsung Group, to win battery orders from other top automakers.
“The firm is actively approaching other U.S. automakers to secure a market for its batteries,” he said.

Samsung SDI may supply Ford with a small number of batteries  first, and then increase shipments gradually because terms of their negotiations are subject to market conditions.

The talks are almost “75 percent complete” as they are narrowing differences on key conditions such as volume and price, the source said.
“If things go smoothly, Samsung will be able to start supplying the batteries next year.”
A spokeswoman at Ford Korea said she was not in a position to talk about battery-related issues.

“Because battery-related issues are being controlled by our headquarters, Ford Motor Korea has no authority to comment on this issue,” she said by telephone.
The deal comes as Ford is diversifying its battery-sourcing to firms other than LG Chem, Samsung SDI’s rival, as the U.S. automaker is pushing ahead with its electric vehicle business amid growing demand.
SDI is already supplying batteries for BMW’s i3 electric car. In January, SDI announced a plan to build its first car battery plant in China with a total investment of $600 billion over the next five years.
Officials from both Samsung SDI and Ford declined to comment.

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