Info
Info

Hyundai and SK Innovation to jointly develop EV battery industry ecosystem

News
Info

Hyundai Motor Group and SK Innovation Co. have agreed to cooperate in the development of a sustainable ecosystem for electric vehicle (EV) batteries that are key to the future mobility industry.

The two parties announced their plan to cooperate in diverse business areas related to the EV battery industry, including battery sales solutions, battery management service and battery reuse and recycling.

The collaboration stems from the companies' shared need to create a battery value chain and strengthen eco-friendliness in business operations covering the entire lifecycle of EV batteries. To enable cooperation, both sides are focusing on the initial process of collecting and verifying the battery pack of Kia Motors' e-Niro model.

Unlike existing cooperation schemes between mobility companies and battery companies that tended to centre on battery supply, the Hyundai-SK cooperation aims for a virtuous cycle of battery usage known as the Battery as a Service (BaaS), which includes lease or rental service. As a result, the cooperation is expected to catalyse the spread of diverse cooperation systems between mobility and battery companies.

Through this partnership, the two parties aim to strengthen the stability of the battery supply chain and create a virtuous cycle of resources from recycling to production; reduce carbon emissions; encourage optimal design that connects EVs and battery reuse, and create synergies by maximising added value through the optimal design of batteries.

In particular, the two companies will seek solutions that can maximise value and eco-friendliness of EV batteries, including reuse of batteries that are no longer useable in vehicles in diverse applications such as the Energy Storage Systems (ESS); and battery recycling that extracts economically valuable metals such as lithium, nickel and cobalt.

These innovations are expected to enhance the value and competitiveness of the battery recycling industry, which will buttress the future EV era.

Furthermore, Hyundai Motor Group and SK Innovation plan to synergise their respective affiliates' business infrastructures and capabilities spanning diverse industries, thereby strengthening their battery competitiveness and expanding the growth of related sectors.

“Hyundai Motor Group's cooperation with SK Innovation, a first-tier battery supplier for our Electric Global Modular Platform (E-GMP) that will be introduced in 2021, marks a critical first step in maximising synergies between mobility and battery companies,” said Youngcho Chi, President and Chief Innovation Officer of Hyundai Motor Group. “We expect our cooperation to play an immensely positive role in strengthening Hyundai-Kia's competitiveness in clean mobility as well as expanding the supply of eco-friendly EVs.”

“This collaboration between Hyundai Motor Group, which is leading the popularisation of EVs in the global market, and SK Innovation, which possesses the advanced technology in battery development and recycling, is highly meaningful in that the two have joined forces to collaborate across the entire EV cycle,” said Dongseob Jee, President of SK Innovation's Battery Business. “Both companies will create a seamless collaboration system to explore new business opportunities across the whole battery value chain.”

Apart from collaborating with SK Innovation, Hyundai Motor Group is striving to secure and open up new markets by collaborating with global players specialising in EV battery reuse, including Korea Hydro & Nuclear Power Co., Wärtsilä, OCI, and Hanwha Solutions. The Group, via the collaboration with SK Innovation Co., plans to fundamentally reinforce its technological competitiveness by securing technology and infrastructure, and expand its business areas.


The Latest News, Brought To You By
Hyundai and SK Innovation to jointly develop EV battery industry ecosystem
Modified on Tuesday 8th September 2020
Find all articles related to:
Hyundai and SK Innovation to jointly develop EV battery industry ecosystem
TaaS Technology Magazine
Info
SK Innovation Steps Up Hiring At Its First US Based EV Battery Site
Volta Trucks To Appoint New Chairman And Board Member
Porsche Deploys High-power Charging Trucks As Mobile Power Source For The Taycan
The Mercedes-Benz EQV: Electric, Versatile, Intelligent
StreetDrone Unlocks Autonomous Vehicles With Ground-breaking Subscription Service
South Lanarkshire Council Takes Delivery Of 141 All-electric New Renault ZOEs
Fisker Inc. To Establish New Technology Centre In San Francisco
Self-driving Taxi Concept Wins ‘New Designers’ Ford Award
GM’s All-electric Future To Be Powered By Ultium Drive Units
Kia Motors Launches ‘KiaMobility’ To Diversify Mobility Services
Electrify America And Volkswagen To Provide Unlimited Charging Plan For Owners Of The Upcoming ID.4 Electric SUV
Hyundai Envisions Future Of Mobility Experience With IONIQ Concept Cabin
Hyundai Motor To Accelerate Urban Air Mobility Test Flights
The New Volkswagen ID.4 Debuts
Mercedes-Benz Wörth Plant To Start Series Production Of The EActros In 2021
Eaton’s Twin Vortices Series Helps Hydrogen Fuel Cell Modules Operate At Peak Efficiency
Volkswagen And Uber Launch Pilot Project With EVs In Berlin
BMW Group Plant Leipzig To Start Battery Module Production In 2021
Trevor Milton Steps Down As Executive Chairman Of Nikola
Punch Powertrain And Groupe PSA’s JV Begins Operations
Daimler Trucks Presents Technology Strategy For Electrification Along With Fuel-cell Concept Truck
Ford Reveals Mustang Mach-E GT For Europe
ŠKODA Partners With Czech Transport Operator To Reimagine How We Travel Across Cities
Inmotive Introduces New Efficient Two-speed Transmission For EVs
Info
Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the TaaS Magazine, the TaaS Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}