LG Chem, a division of Korean electronics giant LG, is reportedly reviewing a plan to begin manufacturing batteries for electric bicycles.
According to the Korean IT Times, LG has shown its hand after clear signs that both the e-bike and rechargeable battery markets are growing, with growth in the latter sector accelerated by the trend toward replacing lead-acid batteries with lithium-ion.
Lithium-ion batteries are part of LG Chem’s Information and Electronic Materials business and are seen as a growth area for the company, with investment increasing significantly in the last seven years.
Samsung SDI is the major current supplier of lithium-ion batteries for such e-bike firms as Mando Footloose, Samchuly Bicycle and Alton Sports. 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 km of distance at 25 km/hour in a single charge.”
Other companies in a strong position to enter the e-bike lithium-ion battery market include LG, Bosch and Panasonic, which boasts a Cycle Technology division and presented the world’s smallest e-bike drive system at 2013’s Eurobike trade event. The company opened a service office for the European market in Munich last year.
