Korea’s Largest Chemical Company LG Chem To Supply Batteries For Japanese Manufacturer Yamaha Motors’ Golf Carts
LG Chem has signed a deal to be the supplier of lithium-ion batteries for Yamaha Motors' golf carts until next year. Korea Herald reported on Sunday that the Japanese manufacturer is also one of the world's top golf cart makers.
An official from LG Chem says their long-term relationship with Yamaha Motors has helped them reached the deal on Sunday, noting that the two companies have been doing business since 2013.
"This is the first time for Yamaha to launch a golf cart operated by a lithium-ion battery," says the official, as noted by The Korea Economic Daily on Monday. "This is a meaningful milestone for us because we are the first supplier for the whole new product."
An LG battery cell of 5.5 kilowatt-hours and 74 ampere hours weighs lighter than a traditional lead battery. LG batteries can be used of up to five years having no maintenance as compared to lead-acid batteries that need maintenance once every two years.
"LG Chem is the first among its chief local rivals, such as SK Innovation and Samsung SDI, to clinch the battery deal with the Japanese company," says LG Chem public relations unit head C.S. Song, Korea Times reported on Sunday.
Song goes on, "Without additional costs, the LG Chem battery will last for five years and charging time has been cut by 40 percent compared to existing models."
With the recent deal with Yamaha Motors, LG Chem is positive that the company will get more orders not only from the Japanese company but as well as from other golf cart makers.
In addition, reports reveal that more and more golf cart makers are shifting from using lead-acid batteries to lithium-ion batteries.
According to a US market research firm Transparency Research Market, the market of global golf cart would reach 3.3 trillion won in sales by 2020.
Meanwhile, LG Chem also plans to develop its golf cart battery business, as per LG Chem battery business unit president Kwon Young Soo.
"We will step up our effort to grab more market share in the world's golf cart battery market," he says.
