SEOUL Oct 23 South Korea's SK Energy
(096770.KS) said on Thursday it will invest 159 billion won
($112.6 million) to expand its lithium-ion battery production.
The investment to expand the No.4 and No.5 lithium-ion
battery separators will last from October 2008 to April 2010,
it said in a filing with the Korea Exchange.
SK Energy, the country's No.1 refiner, is in talks with
major automakers such as Daimler (DAIGn.DE) and Ford (F.N) on
the joint development of next-generation batteries used in
hybrid cars. [ID:nSEO331111]
The batteries are lighter, smaller, longer-lasting and
capable of holding more power than the nickel-metal batteries
that power current gasoline-electric hybrids.
(Reporting by Angela Moon; Editing by Keiron Henderson)