[THE INVESTOR] LG Chem and Samsung SDI have completed preparations for certification from the Chinese government as electric vehicles battery manufacturers, according to Herald Business on Aug. 25.

The South Korean battery-makers are awaiting the fifth round of certifications, which is expected to start accepting applications between the end of August and early September. 

Despite their leading technologies and strong international market share, they both failed to receive certification at the fourth round in June when China’s Ministry of Industry and Information Technology announced 31 qualified battery-makers. 



The Chinese government, however, revised the guidelines not to include the clause that dictated only electric vehicles equipped with batteries from the certified makers would be eligible for subsidies.

China is the largest market for electric vehicles, seeing sales of more than 330,000 in 2015, according to HSBC, accounting for about half of sales across the world.

By Hwang You-mee (glamazon@heraldcorp.com)