LG Chem Says 200-Mile EV Battery Coming in 2016 | Edmunds

LG Chem Says 200-Mile EV Battery Coming in 2016

Just the Facts:
  • LG Chem says it will have an EV battery with 200 miles of range ready for 2016, but hasn?t said which automaker will make use of it.
  • General Motors has said it is working on a 200-mile EV to compete with the more affordable Tesla EV, the $35,000-$40,000 Model III, due in 2016 or 2017.
  • GM and LG Chem already have a working relationship — LG supplies batteries for the Chevrolet Volt.

SEOUL, South Korea South Korean battery giant LG Chem will supply at least one major automaker in 2016 with lithium-ion batteries to power an electric car with 200 miles of range or more, the company’s chief financial officer told the Reuters news service.

The executive did not disclose which automaker would get the second-generation batteries.

But General Motors executives have said that the automaker is working on an EV that will deliver at least 200 miles of range. The automaker, manufacturer of the Chevrolet Volt, has said it hopes to have the longer-range EV in the market in 2016 to compete with the anticipated Tesla Model III, now scheduled for introduction in late 2016 or early 2017.

LG Chem presently supplies lithium-ion batteries to GM, Ford, Hyundai, Kia, Volvo and Renault, among others.

Doug Parks, GM’s vice president for product development, said in an interview last year that General Motors plans to offer an EV with at least 200 miles of range for a price of around $30,000. That's the target all the major automakers are aiming at for their next-generation electric vehicles, he said.

They have to, if they want to remain competitive with upstart EV maker Tesla Motors.

Tesla already sells the Model S sports sedan with several battery options — all delivering in excess of 200 miles. But the base Model S with 208 miles of range starts at $70,000 before incentives and the company’s biggest sellers, its 265-mile models, top the $100,000 mark.

The California-based EV maker has said it plans to bring its Model III to market for around $40,000 and with a range of at least 200 miles.

Edmunds says: EVs with 200 miles of range between charges would make electric driving a lot more palatable to a lot more people. It would be a good thing if LG Chem succeeds at a price point that makes $30,000, 200-mile EVs possible.

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