August 20, 2014 / 2:06 AM / 5 years ago

LG Chem says wins battery order from Audi for plug-in hybrid cars

The Audi logo is shown at the North American International Auto Show in Detroit, Michigan January 14, 2013. REUTERS/Rebecca Cook

SEOUL (Reuters) - South Korea’s LG Chem (051910.KS) said on Wednesday it had won an order from Audi (VOWG_p.DE) to supply batteries for its plug-in hybrid and micro hybrid electric vehicles.

LG Chem said the deal was “worth hundreds of millions of dollars” but declined to give further details. It said it expected to win more such orders from Audi parent Volkswagen AG (VOWG_p.DE) in the future.

LG Chem, which has secured a total of 20 customers including General Motors (GM.N), also it aims to achieve combined sales of over 10 trillion Korean won ($9.8 billion) from large-sized batteries by 2018.

($1 = 1,020.3000 Korean won)

Reporting by Hyunjoo Jin; Editing by Miral Fahmy

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