KOTRA, Battery Association, and COEX to Host 'InterBattery Europe'

BMW, Freyr, Webasto, and Others
European Electric Vehicle and Secondary Battery Companies Participate
"Expecting Entry into EU Electric Vehicle Supply Chain"

KOTRA, in collaboration with the Korea Battery Industry Association (KBIA) and COEX, announced on the 20th that it held 'InterBattery Europe 2024' in Munich, Germany on the 19th (local time).

At the opening ceremony of 'InterBattery Europe 2024' held on the 19th (local time) in Munich, Germany, key figures are taking a group commemorative photo.
[Photo by KOTRA]

InterBattery Europe lasts for three days. It was first held last year, building on the success of the domestic InterBattery exhibition, and this year marks its second edition. The domestic 'InterBattery Korea,' now in its 14th edition, is the largest battery specialized exhibition in Korea, with 579 companies participating and over 120,000 visitors.

The event serves as an opportunity to solidify the position of the Korean battery industry in Munich, Germany, the home of the automotive and global exhibition industries, and is significant in exporting the 'automotive exhibition brand.'

Notably, this exhibition featured participation from battery cell makers to companies related to materials, parts, and equipment. A total of 78 participating companies occupied 186 booths.

Additionally, various side events were held, including the 'Battery Day Europe Conference,' which shared the latest technology trends in the battery upstream and downstream industries; one-on-one export consultations with major secondary battery buyers from the European Union (EU); and a networking night.

Europe is the world's second-largest electric vehicle battery market. Although it has experienced fluctuations recently due to the global electric vehicle chasm (temporary demand stagnation), its potential remains significant.

According to the global market research firm Statista, the European electric vehicle market size is 169.6 billion euros (approximately 252 trillion KRW) as of this year. It is expected to grow at an average annual rate of 12.34%, reaching 270.1 billion euros (approximately 401 trillion KRW) by 2028.

The number of electric vehicles in Europe is also projected to reach about 4.83 million units by 2028. In particular, Germany is playing a leading role in the European market through comprehensive government support and increased charging infrastructure in the electric vehicle sector.

Yoo Jung-yeol, President of KOTRA, stated, "Secondary batteries are one of Korea's top 20 strategic export items and the next-generation driving force of our industry." He emphasized, "KOTRA will actively support domestic battery, materials, parts, and equipment companies to secure and expand exports in the European secondary battery market."

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