Shulou(Shulou.com)11/24 Report--

CTOnews.com, Oct. 26, according to TheElec, Hyundai is reviewing plans to purchase more Chinese batteries, which may increase the number of batteries purchased from the Ningde era.

Sources say it is highly likely that Hyundai will more than double the number of purchases from the battery maker. Ningde Times is expected to provide Hyundai with enough batteries to power more than 70000 electric vehicles.

He also mentioned that Hyundai is not considering buying more lithium iron phosphate batteries and is currently mainly considering nickel-based batteries. The company will buy batteries with lengths of 300mm or less, mainly for electric vehicles on non-E-GMP platforms.

The move is believed to be because Hyundai and sister brand Kia are building a new car plant in South Korea that specializes in electric cars. The plant plans to produce about 350000 cars this year and plans to increase it to 1.44 million by 2030, a goal that requires an adequate supply of batteries.

As for why Ningde era, sources say its battery prices are lower than those of South Korean competitors such as LG Energy Solution and SK On. At the same time, Hyundai Mobis, Hyundai's parts manufacturing subsidiary, is working with the Chinese battery maker on battery-to-battery technology.

The two major companies have signed a technology license agreement, which only supports Ningde era batteries, and Hyundai Mobis's agreement shows that Hyundai has always planned to buy more batteries from Chinese battery makers.

CTOnews.com has reported that Hyundai sold about 52000 electric vehicles worldwide in the third quarter of this year, up more than 27% from a year earlier, accounting for 5.1% of the cars sold in that quarter. They sold a total of 1.025 million vehicles worldwide this quarter, up 14% from a year earlier.

Kia's results show that it sold 123000 electric vehicles worldwide in the third quarter, up 5.6% from a year earlier, of which 40,000 pure electric vehicles were sold, up 34.3% from a year earlier.

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