BERLIN (AP) -- Auto parts maker Robert Bosch GmbH said Monday that it is forming a joint venture with Samsung SDI Co. Ltd. to make lithium-ion batteries for use in hybrid cars.
The joint venture, to be known as SB LiMotive Co. Ltd. and based in South Korea, is expected to start operations in September, Bosch said in a statement.
It added that Bosch and the Samsung Group affiliate each will hold 50 percent of the new company, and that they will have equal representation on the management board and board of directors.
Samsung already produces lithium-ion batteries for makers of laptops, mobile phones and power tools.
Bosch said the joint venture's foundation is subject to approval by antitrust authorities.