WUHAN, Aug. 4 (Xinhua) -- A Chinese company would likely supply silicon storage batteries to automakers in the Republic of Korea (ROK) for the production of electric cars, according to a framework agreement signed between the company and an ROK trade delegation.
SSG Energy in Jingzhou city in central China's Hubei Province would supply batteries worth 250 billion yuan (38.83 billion U.S.dollars) over the next five years, said Chen Hong, president of SSG Holding Group, the parent company of SSG Energy.
The silicon storage batteries will mainly be used to produce electric cars in the ROK, said Cho Dong-Sung, head of the delegation and a member of the Presidential Council on National Competitiveness, on Wednesday when the agreement was signed in Jingzhou.
He said batteries made by SSG are durable, pollution-free and quick-charging.
The company also claimed on its website (www.ssghg.com) that the patented battery could be reused for over 700 times, and it only takes half an hour to one hour to recharge the battery.
Chen Hong said the company currently has three production lines with daily production capacity of 7,000 batteries.