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Samsung SDI, a rechargeable battery maker by partnering with Bosch, a supplier of automobile components, plans to start commercial production of lithium-ion batteries for electric vehicles by 2011. The joint venture between the two companies is called SB LiMotive.

According to Samsung SDI, the construction of the manufacturing plant commenced last week in Ulsan, South Korea. Samsung and Bosch will jointly invest $409.2 million over the next seven years on the facility. The companies plan to capture a 30 percent share of the global market for green automobiles by 2015 through this initiative.

According to, an agreement has been signed between SB LiMotive and BMW to supply lithium-ion batteries for the automaker's electric cars from 2013 to 2020. BMW plans to unveil a range of all-electric cars under its sub-brand, Megacity. SB LiMotive has said that it also hopes to get contracts from other car manufacturers and with additional investments from its founding partners, will ultimately produce batteries for portable electronic products and large-scale battery storage systems.

By having its manufacturing base in South Korea, the company may be eligible for tax breaks and other incentives that the South Korean government has promised for green initiatives. The $85 billion green stimulus package of the government is aimed at fostering domestic eco-friendly companies. SB LiMotive will likely compete in the market with another South Korea-based joint venture between Hyundai Mobis, an auto parts manufacturer and LG Chem, a chemicals maker


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