DETROIT (Reuters) - LG Chem Ltd unit Compact Power said it expects lithium-ion battery technology to dominate the hybrid electric car market for the next 15 to 20 years, its chief executive said on Wednesday.
The company, which is in the running to supply battery packs for General Motors Corp's highly anticipated Chevrolet Volt plug-in electric car, is also in discussions with other automakers on potential battery supply deals, CEO Prabhakar Patil told the Reuters Autos Summit.
Patil declined to specify which automakers the company is talking to.
As demand from the auto industry grows, Compact Power will generate up to $1 billion in sales in the next 10 years, Patil said.
(For summit blog: summitnotebook.reuters.com/)
(Reporting by Nichola Groom; Editing by Phil Berlowitz)
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