LG Chem awarded $9.62 million to drive down cost of plug-in hybrid battery packs
The contract calls for LG Chem to attempt to develop a 40-mile battery pack for PHEVs that meets the USABC’s performance requirements, while driving down the cost to automakers to the $3,400-mark set by the USABC. This latest contract marks LG Chem’s fourth deal with USABC.
USABC is a subsidiary of the United States Council for Automotive Research (USCAR). Enabled by a cooperative agreement with the U.S. Department of Energy, USABC’s mission is to develop energy storage technologies to advance the commercialization of hybrid, electric and fuel cell vehicles.
[Source: USCAR]
The United States Advanced Battery Consortium LLC (USABC) has awarded LG Chem Power Inc. (LGCPI) a development contract valued at $9.62 million; the program aims to make significant strides toward achieving the USABC goals for PHEV (plug-in hybrid electric vehicle) 40-mile battery pack system performance requirements while driving down the cost to automakers toward the USABC goal of $3,400.
This latest award marks the company’s fourth development contract with USABC.
USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR), the collaborative automotive technology company for Chrysler Group LLC, Ford Motor Company and General Motors. Enabled by a cooperative agreement with the US Department of Energy, USABC’s mission is to develop electrochemical energy storage technologies that support commercialization of hybrid, electric and fuel cell vehicles.
