SEOUL, KOREA – LG Chem (part of the Korean electronics giant LG) is reviewing a plan to plunge into the business of making e-bike batteries after seeing a clear sign that the market is indeed growing. This was reported yesterday by the Korean IT Times. After Samsung, Bosch and Panasonic this is he next world electronics player stepping into the e-bike market.
The Korean Times reported further that Samsung SDI president Park Sang-jin said: "If the main means of transportation in the future are restructured around electric cars and rail cars, most short distance travels will be covered by electric bikes. We are very optimistic about the battery market for e-bikes. About 30% lighter than the same-class lead-acid batteries, lithium-ion batteries can travel 60 kilometres of distance at 25 km an hour in a single charge."
Primary growth area
The Korean Times report also says: "LG Chem is reviewing a plan to plunge into the business of making e-bike batteries after seeing a clear sign that the market is indeed growing."
LG Chem Ltd. is a 14 billion US dollar Korea-based company. Lithium-ion batteries are part of LG Chem's Information and Electronic Materials business and have been identified as a primary growth area for the company. In fact, investment in lithium-ion batteries has grown five-fold over the past seven years.
Panasonic Cycle Technology
Other consumer electronics giants involved in e-bikes are Samsung, Bosch and Panasonic. At last year's Eurobike Panasonic presented the world's smallest e-bike drive system. Panasonic Cycle Technology's direct drive mid-motor features 3-sensors and maximum torque stands of 65 Nm. The company installed a Munich-Germany based service-team for the European market last year.