Hyundai Motor-SK Battery Alliance Targets Europe... 60% Battery Market Share

[Asia Economy Reporter Park So-yeon] As the battery alliance between SK Innovation and Hyundai Motor Group strengthens, more than half of the Hyundai Motor Group electric vehicles (EVs) supplied worldwide are now running on SK batteries. In particular, it has been confirmed that SK Innovation supplies most of the batteries for Hyundai and Kia's Europe-bound EVs, including the Hyundai Kona, which made global headlines for running 1000 km on a single charge, and the luxury brand Genesis.

According to industry sources on the 17th, as of August, about 60% of the global EV supply volume of Hyundai and Kia vehicles is equipped with SK Innovation batteries based on order volume.

Recently, as Hyundai Motor Group and SK Group have continued close cooperation in the EV sector supplying the European market, the share of SK battery supply has rapidly expanded. It is known that most of the EVs produced at Hyundai's Czech plant are equipped with SK Innovation batteries. In the future, SK batteries are also expected to be installed in Kia Motors' EV 'Niro.'

The increased yield at SK Innovation's Komarom plant in Hungary has also contributed to the rise in supply volume. With the recognition of SK Innovation's flagship product, the 'NCM811' technology, cooperation between Hyundai and SK is expected to strengthen further. The battery type installed in the Kona Electric, which recently made headlines for running 1000 km on a single charge, is SK Innovation's 'NCM811.' SK Innovation has been selected as the primary battery supplier for Hyundai and Kia's dedicated EV platform, E-GMP, which will begin mass production early next year, and will supply batteries worth nearly 10 trillion KRW over the next five years. SK Innovation plans to start full-scale mass production of the batteries to be applied to E-GMP from the fourth quarter of this year.

As SK Innovation expands the volume of batteries supplied to Hyundai, it is rapidly increasing its share in the global EV battery market. According to SNE Research, SK Innovation's market share in the first half of this year was 3.9%, ranking sixth, which represents a 66% growth compared to the same period last year. An industry insider explained, "The SK Innovation Hungary plant entering normal operation with 'one shot, one kill' can be seen as a signal," adding, "The yield is coming out fully optimized."

This content was produced with the assistance of AI translation services.