update 1-e.on, samsung sdi team up in energy storage push - battery energy storage system

* E.
Samsung SDI signed a memorandum of understanding to explore storage options * the group will operate battery projects in the USS.
The battery industry in Germany and the UK was outstanding after Tesla's relocation.
Rec, add details, background, bullets)
Frankfurt, December 16 (Reuters)-
The largest utility company in Germany
ON and South Korea's Samsung SDI have established partnerships in the energy storage sector to leverage Tesla's expected growth in battery demand after entering the market.
The two groups signed a memorandum of understanding to develop a "profitable energy storage solution ". . .
Evaluate and develop potential business models for Lithium applications
Ion batteries in selected regions and markets"
Said in a statement on Wednesday.
No financial details were disclosed.
In addition to his bold statement about the "bad" of traditional batteries, Tesla also united
Founder and CEO Elon Musk gave the industry a big push when he announced the launch of the stylish residential storage system Powerwall in April.
As a result, traditional power groups are exploring how to make money by helping customers reduce the use and storage of more energy in order to tap new sources of revenue after the demise of traditional fossil energy
Fuel power generation.
As part of the agreement, E.
Samsung SDI will carry out battery projects in the United States, Germany, the United Kingdom and the Czech Republic and expand these projects to other countries.
Samsung SDI has supplied batteries to BMW and Volkswagen Audi, and earlier this year, Samsung agreed to buy the battery pack business of Magna International, Canada. (
Report by Christopher Steitz;
Editor Maria Sheahan)