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Robert Bosch and Korean company Samsung SDI are to set up a joint venture to develop, manufacture, and sell lithium-ion batteries. The joint venture, SB LiMotive, will be based in Korea, and will start operations in September 2008.

Both groups will have a 50 per cent stake in the new venture and will be equally represented on the board of management and on the board of directors.

The companies plan to sell lithium-ion batteries for automotive applications worldwide.

Bosch has expertise in areas such as power electronics, battery management, electric motors, transmissions, and DC/DC converters. Samsung SDI is already involved in lithium-ion batteries, which it produces for manufacturers of laptops, mobile phones, and power tools. In 2007 Samsung SDI produced 376 million battery cells.