The Korean supplier’s CFO, Cho Suk-jeh, suggests the batteries are being developed for models that require at least 200 miles of electric-only range, though he declined to disclose which automakers are lining up to secure supply contracts, according to Reuters.
The announcement hints at the launch timing for an expected wave of EVs that provide a much longer range than current mainstream offerings, such as the 75-mile Nissan Leaf. Range anxiety has been cited as a primary roadblock to wider adoption of electric vehicles.
Executives from several companies, notably Tesla Motors and Nissan, have opined that EVs must approach a 200-mile range before they will become viable competitors in the wider market. Reports suggest most large automakers are quietly developing long-range EVs, waiting for battery prices to drop low enough for the models to be considered for volume production.
Tesla may be among the first to launch a sub-$40,000 vehicle with a range around 200 miles, however the LG Chem announcement suggests the Model III may not have the segment to itself for very long.
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