Robert Bosch and the Korean company Samsung SDI Co. Ltd. have decided to set up a joint venture to develop, manufacture, and sell lithium-ion batteries. It is planned that the joint venture, which is to be named “SB LiMotive Co. Ltd.” and to be headquartered in Korea, will start operations in September 2008. The shareholding of Robert Bosch will be 50 percent and that of Samsung SDI Co. Ltd. 50 percent — both companies will be equally represented on the board of management and on the board of directors. The foundation of the joint venture is still subject to approval by antitrust authorities. The companies plan to collaborate in the development, manufacture, and worldwide sale of lithium-ion batteries for automotive applications. Lithium-ion batteries are the basis for forward-looking technologies in the automobile, such as hybrid or electrical drives. In connection with its hybrid project unit, Bosch has already built up comprehensive expertise in areas such as power electronics, battery management, electric motors, transmissions, and DC/DC converters. The main focus of Samsung SDI Co. Ltd. is the further development of lithium-ion batteries, which it already produces for a large number of manufacturers of laptops, mobile phones, and power tools.