Report: Hyundai is working on its own LFP batteries for BEVs

8 November 2023, 11:54:52

The Korea Herald reports that Hyundai aims to develop its own LFP batteries for EVs. The information comes from "industry sources" who also specify that Hyubndai has started this year a two-year joint project with Korean battery makers and under it, the brand will complete the development of LFP batteries in 2024. These new batteries will find their way into small, entry- and mid-level EVs by Hyundai and Kia in 2025.

There is also information about some of the battery's parameters. For example, the energy density of the battery cell will be around 300 W/kg and Hyundai aims to maximize the cell's capacity to more than 60 Amperes. Improvement in voltage is also expected.

This strategic move will provide Hyundai with a certain level of independence from China-based battery manufacturers that offer more affordable batteries for cost-effective EVs. At present, the Hyundai Kona EV and the Kia Ray EV pack CATL's LFP batteries.

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.Source

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