Hyundai to develop own cheaper batteries for EVs
简介Hyundai Motor Group is expected to develop its own price-competitive lithium iron phosphate, or LFP, ...
Hyundai Motor Group is expected to develop its own price-competitive lithium iron phosphate, or LFP, batteries for electric vehicles late next year to reduce dependence on China-made batteries, industry sources said Monday.
According to media reports, under the two-year joint project with Korea-based battery makers that started this year, Hyundai will complete development of LFP batteries in 2024.
The batteries will be installed in Hyundai and Kia’s small and entry-level electric cars and midpriced EVs from 2025.
A Hyundai Motor Group official declined to comment on the matter, citing confidentiality, and said, “We are looking into working with small battery makers as well as large companies (like LG Energy Solution, Samsung SDI and SK On) here in Korea.”
Hyundai aims to maximize the battery cell’s capacity to the highest level of more than 60 amperes. Its energy density will be around 300 watts per kilogram. The company plans to improve the product’s voltage and capacity to similar levels of premium nickel, manganese and cobalt, or NCM, batteries.
Industry insiders say the carmaker’s bold move to make its own batteries comes after its commitment to distance itself from Chinese battery makers in producing cost-effective EVs.
The Hyundai Kona EV, an electrified version of the small sport utility vehicle, and its smaller sibling Kia’s compact sedan Ray EV are equipped with China-based CATL’s LFP batteries.
But with the deepening tech trade war between China and the US and its allies, including Europe, Hyundai Motor Group, which operates one of the largest EV businesses in the US, has been under pressure to join the decoupling push.
Hyundai’s own battery business can also ramp up low- and midpriced electric car production, which is gaining more traction amid a worldwide EV sales slump, according to experts.
“With prolonged economic slowdown and high inflation, customers, who are interested in electric cars, are eyeing entry-level and less pricey EVs,” said Lee Ho-geun, a car engineering professor at Daeduk University. “Like the world’s top EV makers Tesla and BYD, if Hyundai develops more EV batteries, it can boost production and cut the overall costs.”
In June, Hyundai Motor Group CEO Chang Jae-hoon unveiled an investment plan worth 9.5 trillion won ($7.3 billion) for battery development and technologies over the next 10 years. Chang vowed that the company will jointly develop LFP, NCM and all-solid-state batteries in coordination with battery manufacturers and academic institutions.
Following the master plan, the first Hyundai-made NCM battery for its hybrid cars, a product of a business tie-up with SK On, was installed in the hybrid version of the company’s new midsize SUV Santa Fe, launched in August.
Commercial production of the battery was previously expected to come next year, however Hyundai moved up the schedule. The carmaker led the processes of battery materials certification, design and testing while enhancing performance – approximately 10 percent greater battery efficiency compared to the previous car model.
For research and development of lithium-ion and next-generation all-solid-state batteries, Hyundai plans to work with the US-based firms Solid Energy System and Solid Power.
It also looks to open a new research building in its Uiwang research center in Gyeonggi Province for lithium-ion and all-solid-state batteries by next year. Building a small-scale pilot production line is under consideration to test and improve the performance of the batteries.
BUSAN — The top diplomats of South Korea, Japan and China reached a consensus on Sunday to accelerat ...
이원욱 더불어민주당 의원이 19일 오후 서울 여의도 국회 의원회관에서 열린 '원칙과 상식 1. 민심소통: 청년에게 듣는다' 토론회에서 발언을 하고 있다. 뉴스1이원욱 더불어민주당 ...
The remake of stage musical "Sister Act" began its Seoul run on Tuesday at D-cube Link Arts Center, ...
School violence drops, drugs among teens surge: police
[Korean History] In 2008, Korea's National Treasure No. 1 went down in flames
After 13 years, Naver's 'OnStage' music show bids farewell
Court orders Japan to compensate ‘comfort women’
Hanwha Ocean developing submarine stealth technology
Remaining BTS members to head to military
- [Life In Korea] Delivering 'taste of life' via street art
- Argentinian politician's old tweet mocking BTS angers fans
- 유엔 대북제재위 "北 가상화폐 탈취 2조3000억, 이전보다 3배"
- 윤 대통령, 4박 6일 사우디·카타르 순방 마치고 귀국
- Hyundai Motor’s yearly earnings hit record
- Hyundai Motor posts highest Q3 earnings on upbeat US sales
- Olympic medalist ‘tricked’ by fiance
- SK hynix logs quarterly losses for 4th consecutive quarter
- Cirque Du Soleil mesmerizes Seoul with 'Luzia: A Waking Dream of Mexico'
- Revamped 'Sister Act' with diverse cast gets ready for international premiere
- [Herald Interview] ‘Daily Dose of Sunshine’ director, actor say drama consoled them
- Food trade agency launches global low
- Seoul shares open higher on Wall Street gains
- Han Sung Motor commits to give back to society
- S. Korea, US, Japan reaffirm cooperation
- Naver's QR payment service available in 42 countries
- Prix Medicis winning Han Kang wants next novel to be like 'spring'
- Yoon says short selling ban necessary to protect retail investors
- National Changgeuk Company's endeavor to foster pansori composers continues
- Finance minister calls for reenactment of corporate restructuring act
- Production teams called out for carelessness
- Seoul subway to hold second strike Nov. 22
- Posco International to build modular factory in Ukraine
- [Herald Interview] Korean team wins James Dyson Award with ‘hands
- Helicopter parent's questions spark debate online
- Google offers data residency for Korean corporate clients
- [KH explains] Chinese battery makers gobbling up Korean rivals’ European market share
- US approves possible sale of SM
- N. Korea 'satisfied' with tests of solid
- US set to deploy B