Hyundai Motor to Launch HEV Equipped with 'In-House Designed Battery' This Year

Hyundai Motor 2023 CEO Investor Day on the 20th
Announces Battery Development Capabilities and Supply Stabilization Strategy
Launch of HEV Equipped with Self-Developed Battery This Year
Self-Developed LFP Battery to Be Equipped by 2025

Hyundai Motor Company will launch a hybrid (HEV) vehicle equipped with a self-designed battery this year. In 2025, it plans to install lithium iron phosphate (LFP) batteries jointly developed with a battery company in new vehicles. A separate small-scale pilot production line will also be established for next-generation battery development.

On the 20th, Hyundai Motor disclosed its battery development capabilities and supply plans at the '2023 CEO Investor Day' held at the Conrad Hotel in Yeouido. Previously, in 2021, Hyundai Motor signed a memorandum of understanding (MOU) with SK On for joint development of battery cells for HEV vehicles. Hyundai participated in the entire development process to create optimized batteries, from material verification and specification finalization including application ratios, design, product evaluation, to performance improvement. SK On was responsible for mass production and production process technology.

Additionally, Hyundai Motor will secure price competitiveness through the development and production of LFP batteries. It plans to jointly develop battery cells and systems with a battery company and install them in new electric vehicles around 2025. Electric vehicles equipped with the new LFP batteries, which have price competitiveness, will be launched mainly in emerging markets.

At Hyundai Motor Company's '2023 CEO Investor Day' held on the 20th, (from left) Yoon Tae-sik, Head of Hyundai Motor IR Team, Koo Ja-yong, Executive Vice President in charge of IR, Seo Kang-hyun, Vice President and Head of Planning and Finance Headquarters, Jang Jae-hoon, CEO and President, Kim Heung-soo, Vice President in charge of GSO, and Kim Chang-hwan, Executive Vice President and Head of Battery Development Center, are answering questions.
[Photo by Hyundai Motor]

Hyundai Motor is also concurrently developing next-generation batteries such as lithium metal and all-solid-state batteries. A next-generation battery research building will be constructed at the Uiwang Research Center by next year. The research building will include a small-scale pilot production line to directly conduct production verification. In July this year, a battery joint research center established with Seoul National University is scheduled to open. This is aimed at securing excellent talent while conducting joint research projects.

Stable supply of battery materials is also a critical task. Hyundai Motor is pursuing lithium supply contracts with global partners. Lithium is a key material for cathodes supplied to the Indonesian battery joint venture. The company is increasing various partnerships with major material suppliers and continues consultations with domestic institutions and foreign governments.

Furthermore, Hyundai Motor is focusing on securing battery management capabilities that optimize electric vehicle performance. In addition to battery conditioning technologies such as battery preheating and cooling, the advancement of management systems is an important task for battery safety. The high-performance electric vehicle Ioniq 5 N, scheduled to be unveiled next month, is a culmination of Hyundai’s unique electric vehicle thermal management technology that can maximize performance under extreme conditions.

Hyundai Motor will invest 9.5 trillion KRW over the next 10 years in battery performance improvement, advanced technology development, and infrastructure construction. Kim Chang-hwan, head of Hyundai Motor’s Battery Development Center, said, "We will realize optimized batteries by securing technology across the entire battery value chain," adding, "Through this, we will enhance cost competitiveness and solidify our leadership in the electric vehicle market."

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