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Hyundai Motor: Strengthen the installation of CATL batteries made in China!
– According to Business Korea’s commentary article
Industry insiders announced on May 10.
Hyundai Motor:
Hyundai Motor has equipped the new Kona, which was launched last month, with CATL batteries.
Since it is difficult to secure EV batteries that meet the requirements of the US IRA, we will accelerate the shift to EVs by diversifying our suppliers.
Hyundai uses CATL and Sangen LIB:
The batteries used are made in China. Not Lithium Iron Phosphate (LFP), but “Nickel-Cobalt-Manganese NCM/LIB”.
NCM/LIB has a higher density than LFP batteries, allowing longer EV range. With a 64.8 kW battery, it can travel 417 km on a single charge.
Following the introduction of commercial EVs (Porter EV and Bongo EV), Hyundai has also adopted Chinese-made batteries in its passenger cars.
Kia also adopts his CATL battery, sold in South Korea:
The new NiroEV to be released in 2022 is equipped with a CATL battery. This year’s model also uses CATL batteries.
Kia has signed a technical cooperation agreement with CATL. This year, RayEV will be equipped with CATL’s CTP battery.
Industry insider predictions:
CATL batteries will be installed in 140,000 Hyundai Group vehicles, including the Porter EV, Niro EV, and Bongo EV, this year.
Hyundai Motor Group’s EV batteries:
Hyundai Motor Chairman Chung Eui-sun met with CATL CEO Zeng Yu-chun in November 2022 to discuss strengthening cooperation between the two companies.
“The need to diversify battery suppliers is increasing due to the US IRA issue,” so the company plans to increase the use of Chinese batteries.
https://www.google.com/amp/s/insideevs.com/news/593731/kia-catl-batteries-evs-sold-korea/amp/
EV version of the Genesis GV70:
The GV70 is produced at the Hyundai Alabama plant in the United States.
Equipped with a battery made by SK On in Korea:
The SK On battery is manufactured in China down to the cell stage and powers the GV70.
Therefore, “GV70 does not meet the IRA requirements.”
Hyundai Motor’s sales strategy:
The Hyundai Motor Group will procure as many US-made batteries as possible in the North American market and utilize them in EVs.
“We plan to install Chinese-made batteries in Evs sold in South Korea, China and Europe.”
http://www.businesskorea.co.kr/news/articleView.html?idxno=114478