"The world’s future energy course is being charted today because of the ramifications of peak oil and a need to reduce our carbon footprints. A whole new industry - a global wide automotive and industrial lithium-ion battery industry - is going to be built. As a result of lithium-ion battery demand for hybrid-electric and electric cars the increase in demand for lithium carbonate is expected to increase four-fold by 2017. Lithium-ion batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. Chrysler, Dodge, Ford, GM, Mercedes-Benz, Mitsubishi, Nissan, Saturn, Tesla and Toyota have all announced plans to build lithium-ion battery powered cars. Demand for lithium powered vehicles is expected to increase fivefold by 2012. The worldwide market for lithium batteries is estimated at over $4 billion per year."
Reuters:
S.Korea to invest 15 trln won in batteries to 2020
SEOUL July 12 (Reuters) - South Korea, Asia's fourth-largest economy, said on Monday that the country's public and private investments for rechargeable battery were estimated at a combined 15 trillion won ($12.53 billion) through 2020.
The country's top chemical maker LG Chem (051910.KS: Quote) and Samsung SDI (006400.KS: Quote) have already established a strong presence in global rechargeable battery markets especially for hybrid and electric vehicles. South Korea's No.1 crude oil refiner SK Energy (096770.KS: Quote) joined the industry later.
South Korea aims to rank as the world's top producer in rechargeable batteries, the government said in a statement. It was not clear the breakdown of the public and private investment.
South Korea forecast the global rechargeable battery market would reach $77.9 billion in 2020, compared with $12.3 billion this year, thanks to rising demand for electric vehicles and energy storage on top of existing demand for mobile carriers including phones and laptops, the statement added.
SK Group, whose major businesses are in refining and telecommunications via SK Energy and SK Telecom (017670.KS: Quote), said earlier this month that it would invest 17.5 trillion won by 2020 to develop energy resources including rechargeable battery, and technologies. [ID:nTOE66003F]
LG Chem said in April that it was named the lithium ion battery pack supplier for Volvo's electric hybrid car programme, while teaming up with Hyundai Motor (005380.KS: Quote), General Motors [GM.UL] of the United States and China's Changan New Energy Automobile on auto batteries. [ID:nSUL000033] ($1=1197.5 Won) (Reporting by Cho Mee-young; Editing by Jacqueline Wong)"
S.Korea to invest 15 trln won in batteries to 2020
SEOUL July 12 (Reuters) - South Korea, Asia's fourth-largest economy, said on Monday that the country's public and private investments for rechargeable battery were estimated at a combined 15 trillion won ($12.53 billion) through 2020.
The country's top chemical maker LG Chem (051910.KS: Quote) and Samsung SDI (006400.KS: Quote) have already established a strong presence in global rechargeable battery markets especially for hybrid and electric vehicles. South Korea's No.1 crude oil refiner SK Energy (096770.KS: Quote) joined the industry later.
South Korea aims to rank as the world's top producer in rechargeable batteries, the government said in a statement. It was not clear the breakdown of the public and private investment.
South Korea forecast the global rechargeable battery market would reach $77.9 billion in 2020, compared with $12.3 billion this year, thanks to rising demand for electric vehicles and energy storage on top of existing demand for mobile carriers including phones and laptops, the statement added.
SK Group, whose major businesses are in refining and telecommunications via SK Energy and SK Telecom (017670.KS: Quote), said earlier this month that it would invest 17.5 trillion won by 2020 to develop energy resources including rechargeable battery, and technologies. [ID:nTOE66003F]
LG Chem said in April that it was named the lithium ion battery pack supplier for Volvo's electric hybrid car programme, while teaming up with Hyundai Motor (005380.KS: Quote), General Motors [GM.UL] of the United States and China's Changan New Energy Automobile on auto batteries. [ID:nSUL000033] ($1=1197.5 Won) (Reporting by Cho Mee-young; Editing by Jacqueline Wong)"
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