Hyundai and SK On sign a MOU for EV batteries supply in North America

The all-new 2024 Hyundai Kona for the U.S. market debuted in Baltimore, Maryland. The second-generation Kona offers one of the most comprehensive product packages in the small SUV segment, including the widest range of powertrains. The all-new 2024 Kona is on sale now at U.S. dealers and the Kona Electric will be available late fall. Kona Electric will be available in the following variants: Hyundai Kona Electric...

13 September 2023

Governor Brian P. Kemp today announced that Hyundai Motor Group and LG Energy Solution (LGES) will invest an additional $2 billion in their battery cell manufacturing joint venture (JV) at the Metaplant in Bryan County, raising the JV’s total investment value to more than $4.3 billion. This expansion will create another 400 new jobs. In May 2023, Hyundai Motor Group and LGES signed a memorandum of understanding...

1 September 2023

SK On announced it will establish a cathode manufacturing facility in Canada with global major automaker Ford Motor and cathode producer EcoPro BM as they joined a move to strengthen a value chain covering from key battery materials to electric vehicles (EVs). Cathode is a core material determining the performance of an EV battery. The three companies announced that the cathode plant will be built on the 278,000...

24 August 2023

Business Korea reports that according to its industry and government sources, Samsung SDI and the Ulsan city officials are in talks regarding the expansion of the company's Ulsan plant with an LFP battery production line. If these talks lead to actual construction, this will be the first lithium iron phosphate (LFP) battery production facility in South Korea. This type of battery is less efficient than the NMC one...

21 August 2023

Hyundai IONIQ 5 N debuted at the Goodwood Festival of Speed in West Sussex, England. This is Hyundai N's first EV and combines the standard model’s Electrified-Global Modular Platform (E-GMP) with N’s motorsport-bred technologies and leverages N’s expertise from electrified ‘Rolling Labs’ to maximize the EV’s high-performance capabilities and ensure it meets N’s three performance pillars: ‘Corner Rascal,’ ‘Racetrack...

13 July 2023

Hyundai held its 2023 CE Investor Day yesterday updating its "Hyundai Motor Way" strategy with accelerated electrification and future mobility goals. The company will implement this strategy and accelerate its transition toward becoming a smart mobility solution provider by securing a large-scale investment of KRW 109.4 trillion over the next 10 years. Furthermore, in order to secure leadership in the future...

21 June 2023

Hyundai Mobis began construction of a new EV battery system plant in Indonesia, which it plans to be completed by the first half of next year. Hyundai Mobis intends to set Indonesia as a beachhead as the country is emerging as the heart of the ASEAN market and catapulting to being a leader of the electrification ecosystem, which include cells, battery systems, and OEMs. The company announced that it had held a...

31 May 2023

LG Energy Solution (LGES) and Hyundai Motor Group announced an EV battery cell manufacturing joint venture in the U.S. today. LGES and Hyundai Motor Group signed a memorandum of understanding to produce EV batteries in the U.S. and further accelerate the Group’s electrification efforts in North America. The signing ceremony took place in LGES’s headquarters in Seoul on May 26 with the attendance of Youngsoo Kwon...

25 May 2023

SNE Research reported that the global EV battery market has recorded a 38.6% YoY growth in Q1 of 2023. The total amount of energy held by batteries for pure EVs, PHEVs, and HEVs was around 133 GWh. CATL remains the top market player with a growth rate of 35.9% and 35% market share. BYD experienced a staggering growth in the Q1 of 115.5% but ranks second in market share with 16.2%. LGES is third with a growth rate of...

5 May 2023

SK On signed a joint development agreement with U.S. graphite company Westwater Resources as part of efforts to strengthen its battery raw material supply chain in North America. Under the agreement, the two companies will work together to develop environmentally responsible, high-performance anode materials tailored for SK On batteries. Should the project end with successful results, SK On will consider the option...

3 May 2023

Hyundai Motor Group today announced its plans to set up an electric vehicle (EV) battery cell production joint venture in the US with partner SK On. The Group affiliates Hyundai Motor Company, Kia Corporation, and Hyundai Mobis each approved the plan at their respective board meetings today. In November 2022, the Group signed a memorandum of understanding (MOU) with SK On to secure EV battery supply for North...

25 April 2023

Hyundai Motor Group today announced its goal to become one of the world’s top 3 EV manufacturers by 2030 through the combined sales of Hyundai Motor, Kia and Genesis electric models, at the groundbreaking ceremony of Kia’s dedicated plant for purpose-built vehicle (PBV) production in Korea. The Group also highlighted its plans to invest KRW 24 trillion in the domestic EV industry through Hyundai Motor, Kia and...

11 April 2023

In celebration of Disney's 100th anniversary, Hyundai Motor America unveiled its special IONIQ 5 Disney100 Platinum Concept car at the New York Auto Show. The car features special Disney-inspired visual accents and entertainment including lighting and iconic Disney music. This is the first time ever that Hyundai vehicle designers have created a vehicle with visual creative input from Walt Disney Imagineering...

5 April 2023

Hyundai today revealed the all-new 2024 Kona Electric in its North American debut at the New York International Auto Show. The all-new Kona is positioned as an upscaled multiplayer in the small SUV segment, led by an all-electric variant that offers advanced safety, convenience, and an outstanding electric range of 260 miles based on preliminary Hyundai internal estimates. The second-generation Kona offers one of...

5 April 2023