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

CTOnews.com, November 19, at present, Chinese and Korean manufacturers can almost be said to have monopolized the world power battery supply chain, but Chinese manufacturers play a more dominant role in this field, while South Korean manufacturers are catching up, especially in lithium iron phosphate (LFP) batteries.

Hyundai Motor Group is expected to complete the development of its LFP technology by the end of next year, according to the Korea Herald. That means the South Korean giant will soon launch cheaper, more large-scale electric cars.

According to reports, the two-year project will be launched this year, and the LFP batteries will be installed in Hyundai and Kia small and entry-level electric vehicles as well as medium-priced electric vehicles from 2025.

It is said that Hyundai's goal is to "expand the capacity of the battery to a maximum of more than 60 amperes" and the energy density will be about 300 watts per kilogram. By doing so, the carmaker aims to increase the voltage and capacity of LFP batteries to levels similar to more expensive nickel, manganese and cobalt (NCM) batteries.

At present, Hyundai is using Ningde-era LFP batteries, mainly used in Kona Electric and South Korea-only Ray EV city cars.

Although Hyundai declined to comment on the progress of its LFP battery development, a representative said the carmaker was seeking to work with South Korean small battery makers as well as large companies such as LG Energy Solutions, Samsung SDI and SK On.

As early as June this year, Hyundai Motor Group announced plans to invest more than $7 billion (CTOnews.com Note: currently about 50.54 billion yuan) in electric vehicle battery development and related technologies over the next 10 years. Jae-Hoon Chang, Hyundai's chief executive, said at the time that the carmaker would work with battery makers and academic institutions to develop LFP, NCM and pure solid state batteries.

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