Continental AG, the leading German auto and truck parts manufacturing company said it will cooperate with South Korean SK Innovation in the area of lithium-ion battery technology for electric vehicles.
The companies signed a preliminary framework agreement during the North American International Auto Show in Detroit in January, but the cooperation will start operations following Monday’s official signing ceremony in Frankfurt.
SK Innovation will supply market leading Lithium Ion battery cells to the JV while Continental will supply Battery Management Electronics and its overall automotive systems competence.
The newly formed entity will bring together leading experiences in developing battery systems for Hybrid Electric Vehicle (HEV), Plug-in Hybrid (PHEV) and Electric Vehicle (EV) programs at leading automobile manufacturers worldwide, Continental said in a statement.
The announcement comes after last month Kia Motors and SK Innovation said will join hands to carry out research and promotional activities together on all-electric vehicle in a bid to advance the nation’s adoption of the eco-friendly vehicles.
SK Innovation, a flagship unit of SK Group, has provided car batteries to local and overseas companies, including the all-electric version of Kia’s Ray, which was launched in December.