Hyundai Kia and SK Innovation will reportedly work together to develop power batteries

Hyundai Motor Kia and SK Innovation said that the two parties will further deepen their cooperation to jointly develop hybrid electric vehicle (HEV) batteries and strive to put them into use in 2024.

With Hyundai Motor Group Chairman Zheng Yixuan and SK Group Chairman Cui Taiyuan meeting in July last year to discuss power battery cooperation as an opportunity, the two parties have continued to strengthen cooperation on the establishment of power battery recycling and other projects. This time the two parties also decided to jointly develop batteries.

It is reported that the two parties plan to carry out close cooperation in various stages of design, product evaluation, and performance improvement to produce a powerful battery that is most suitable for Hyundai and Kia’s new cars and has both the best mobility and economic efficiency.

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The two parties stated that this cooperation has created a cooperation model for Korean vehicle companies and battery companies to jointly develop new batteries, which is of great significance. This will go beyond the pure supply and demand relationship and rebuild a new model of cooperation in the dominant industry ecosystem.

The two companies have continued to cooperate in the field of environmentally friendly vehicles for more than ten years, including South Korea’s first high-speed pure electric vehicle Blue On (2010), the country’s first mass-produced electric vehicle “Ray EV”, and a dedicated platform based on Hyundai’s global electric vehicles. E-GM’s “Aini Krypton 5” and “EV6” and other automotive battery projects.

Hyundai-Kia said on this cooperation that by leveraging on the innovative cooperation model with global battery technology company SK, the company will further enhance the competitiveness of environmentally friendly vehicles. In the future, it will also deepen cooperation in all areas of battery research and development, mass production, and quality verification.

SK Innovation expressed that it is very pleasing to strengthen its power battery cooperation with Hyundai Kia, the most technologically competitive vehicle manufacturer, and hopes that the company’s unique battery technology and production stability will bring greater synergy between the two parties and help the two companies lead the way. The future development of the automotive battery industry.

(Via)