[Decision of the Chairman] Chung Eui-sun Boards High-Performance 'K Battery'

[Asia Economy Reporter Park So-yeon] Hyundai Motor Group has taken bold decisions and investments that are difficult to achieve under a professional management system to secure a leading position in the future mobility market. In the global automotive market transitioning from internal combustion engines to electric vehicles, the group is enhancing its competitiveness through cooperation with domestic battery companies boasting the world's highest technological standards. Global automakers are putting their lives on the line in developing electric vehicles and next-generation batteries that will lead the future eco-friendly car era. Securing high-performance, high-efficiency batteries that will dramatically extend the driving range of electric vehicles is a key factor determining the outcome of future electric vehicle market competition.

Aiming for the Global Throne through 'K-Mobility' Cooperation

"Hyundai Motor Group will continuously strive to open the era of human-centered future mobility and achieve innovation and progress for humanity. We will approach our work with a more challenging and creative attitude to satisfy customers and expand collaboration with companies possessing the world's best technological capabilities." (Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group)

There is considerable anticipation for Executive Vice Chairman Chung Eui-sun in the domestic and international mobility industries. This is because he plays a key role in the organic transformation of the industrial structure suitable for the Fourth Industrial Revolution era through cooperation among the four major conglomerates. This year, Vice Chairman Chung held close discussions among domestic companies to secure a leading position in the future mobility sector by visiting battery companies such as Samsung SDI, LG Chem, and SK Innovation.

Hyundai Motor Group and SK Group continue to cooperate in next-generation electric vehicle battery technology and future new technology fields. The two companies shared directions for developing future new technologies, including next-generation battery technologies such as high-energy density, fast charging, and lithium-metal batteries developed by SK Innovation, as well as service platforms (BaaS, Battery as a Service) like power semiconductors, lightweight new materials, and battery rental and exchange. They also maintained ongoing discussions on expanding electric and hydrogen vehicle charging infrastructure by utilizing SK gas stations and charging station spaces. Hyundai Motor Group currently applies SK Innovation batteries to plug-in hybrid cars produced by Hyundai and Kia, as well as Kia’s Niro and Soul EV models.

Additionally, SK Innovation was selected as the primary battery supplier for Hyundai and Kia’s electric vehicle-exclusive platform 'E-GMP (Electric-Global Modular Platform)', scheduled for mass production in 2021, and they are collaborating to secure optimal performance. SK Innovation’s products installed in Hyundai and Kia electric vehicles based on 'E-GMP' are next-generation high-performance lithium-ion batteries with significantly improved performance, combined with the unique features of electric vehicle-exclusive models to provide customers with diverse value.

Hyundai Motor Group is also involved in the technology and development roadmap of future batteries such as long-life batteries, lithium-sulfur batteries, and all-solid-state batteries, which LG Chem is focusing on developing. Long-life batteries maintain performance even after being used more than five times longer than current batteries, and lithium-sulfur batteries can dramatically increase the driving range of electric vehicles. Hyundai Motor Group currently applies LG Chem batteries to hybrid cars produced by Hyundai and Kia, as well as Hyundai’s Kona Electric and Ioniq Electric models. Furthermore, LG Chem was selected as the secondary battery supplier for the electric vehicle-exclusive platform 'E-GMP', scheduled for mass production in 2022, and they are collaborating to secure optimal performance. LG Chem’s products installed in Hyundai and Kia electric vehicles based on 'E-GMP' are next-generation high-performance lithium-ion batteries with significantly enhanced performance.

Meanwhile, there is also strong industry expectation that Samsung SDI will soon supply batteries for Hyundai and Kia’s next-generation electric vehicles. It is reported that Hyundai Motor Group has already conducted tests on electric vehicles equipped with Samsung SDI batteries. There is anticipation that Samsung SDI will secure large-scale battery supply contracts with Hyundai Motor Group within the next two to three years. It is analyzed that a broad cooperative relationship encompassing everything from electric vehicle batteries to autonomous driving semiconductors will be fully activated. Vice Chairman Chung Eui-sun also showed a conciliatory gesture to resolve longstanding tensions between Hyundai Motor Group and Samsung Group by inviting Samsung Group Vice Chairman Lee Jae-yong to the Namyang Research Center.

With the Advent of the Electric Vehicle Era... Hyundai and Kia Rapidly Rise in Global Automotive Rankings

Since introducing their first pure electric vehicle in 2011, Hyundai and Kia have distinguished themselves in the global electric vehicle market, recording cumulative domestic and international sales of approximately 280,000 units as of last month. According to EV Sales, a global electric vehicle specialized media outlet, Hyundai Kia sold a total of 24,116 pure electric vehicles in the first quarter of this year, ranking fourth after Tesla (88,400 units), Renault-Nissan Alliance (39,355 units), and Volkswagen Group (33,846 units). Hyundai Kia plans to launch a total of 44 eco-friendly vehicles by 2025, with more than half, 23 models, being pure electric vehicles. Hyundai aims to sell 560,000 electric vehicles by 2025 and targets to be among the top three globally, including hydrogen fuel cell vehicles, while Kia plans to sell 500,000 electric vehicles (excluding China) in 2026 when its electric vehicle business is expected to be fully on track. According to SNE Research, an energy market research firm, which surveyed electric vehicle sales worldwide from January to May this year, Hyundai and Kia combined hold a market share of 7.2%, ranking second after Tesla.

Hyundai Motor Group is also accelerating efforts to secure leadership in future innovative technologies. The group plans to accelerate the development of next-generation innovative technologies such as UAM (Urban Air Mobility), robotics, artificial intelligence (AI), autonomous driving, and big data to secure sustainable growth engines while transforming into a company that makes human life more valuable and provides customers with new experiences. A Hyundai Motor Group official said, "Hyundai Kia is researching related technologies to implement optimized battery performance necessary for the world’s highest-performance electric vehicles."

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