PARIS ― LG Chem, the world's largest maker of rechargeable batteries, and Renault, the foremost European firm in electric vehicle, look to double the maximum speed of the futuristic automobile in years to come.
The two outfits are thinking of developing an electric vehicle that can travel at a speed of 400 kilometers per hour (kph), President Park Geun-hye's top economic aide Cho Won-dong said Monday.
"Currently, the top speed of the electric vehicle is around 200kph. That is good but is not enough. Hence, Renault and LG Chem are currently talking about doubling the maximum speed," Cho told a press conference.
"They will not sign a memorandum of understanding this time but they agreed in principle in the collaboration and talks are now underway to iron out the differences in details."
Cho said that in developing the high-speed electric vehicle, ion-lithium batteries are one of the most significant components ― the reason why LG Chem's cooperation is important from Renault ‘s perspective.
"To be sure, LG will continue to supply batteries to Renault. On top of that, the two players will cooperate in the development of futuristic electric vehicles, too," said Cho who assured the rich potential of the project.
To boost bilateral cooperation, President Park Monday visited the electric vehicle test center of Renault located south of Paris over her week-long visit to three European countries ― the United Kingdom and Belgium on top of France.
Over the past few decades, the environmental impact of petroleum-powered vehicles has resulted in fresh interest in an electrical transportation infrastructure by countries across the world.
Unlike the fossil fuel-enabled vehicles, the electricity can be generated from a wide range of renewable sources like solar, wind and tidal power on top of nuclear energy and fossil fuels.
Against this backdrop, the world's top-tier automakers have competed to take the initiative in developing electric vehicles, which a majority of experts deem as next-generation automobile technologies.
In other words, it is regarded as eco-friendly solutions compared to conventional gasoline-, or diesel-based cars whose combustion is blamed as the main culprit of pollution.
Included in the biggest challenge in electric vehicles are how to store electricity in a stable manner and how to jack up the speed of the cars, which were dubbed as the Holy Grail of electric vehicles.
In case Renault and LG Chem succeed in dealing with the problems, the two entities are expected to substantially increase the commercial viability of electric vehicles so that they win the hearts and minds of motorists in the near future.