LG Chem thinks that electric cars are soon going to catch on in China due to the pollution situation there:
CEO and Vice Chairman Park Jin-soo says LG Chem may build an electric battery plant in China in anticipation of strong growth of electric vehicles in the world’s largest automobile market, as the country tries to deal with its air pollution crisis.
LG Chem, which supplies EV batteries for General Motors’ Volt, has a small battery manufacturing factory in Nanjing.
“We are studying how many orders we could win there and other legal preparations,” Park said Friday. “I think the EV market in China can rise fast.” [Joong Ang Ilbo]
Electric cars will catch on when they become affordable and have comparable range to cars that use gasoline. Anyway I have to wonder if the Chinese will pay LG Chem workers to do nothing like the US government does for the LG Chem plant in the US?