Continental AG and SK Innovation Sign Agreement to Develop Battery Technology for Electric Cars
Continental AG is a German car part and tire manufacturer; SK Innovation is third-largest company in South Korea
The joint venture will be based in Berlin, Germany. Both companies signed a letter of intent at the 2012 North American Auto Show in Detroit, MI, earlier this year. SK Innovation will be the majority shareholder in the new company (51%), and the Berlin-based company will have up to 200 employees, with additional R&D to take place in Daejon, South Korea.
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