SK Innovation Supplies Lithium-Ion Batteries for Hyundai Mass-Produced Models

South Korean power battery company SK Innovation is about to provide lithium-ion batteries for 500000 electric cars for Hyundai Motor Group on its E-GMP platform.

According to the latest news, Hyundai's prototype vehicle based on the E-GMP platform will undergo a 500km closed-cycle test, and mass production is expected in the first quarter of 2021. The transaction of the two companies involves 500,000 electric vehicle power batteries, which will be produced at SK Innovation's plant in Ulsan, South Korea. According to industry insiders, the 500000 electric cars will use 800V high-voltage battery pack, battery demand between 37.5GWh-50GWh, due to the high capacity requirements, it is difficult to predict whether more battery suppliers will be added in the future.

Previously, Hyundai set the goal to launch 44 electric vehicles by 2025, and the launch of the E-GMP platform will help the company achieve this goal. At present, the company already has a pure electric SUV, KONA new energy model, which is based on the existing ICE platform, and Kia Motors' e-Niro is also built on this platform.

In recent years, SK Innovation has continued to overweight the new energy business, hoping to catch up with competitors such as LG Chemical and Samsung SDI. In 2018, the company secured huge orders of lithium-ion batteries from Volkswagen Group and invested $1.7 billion to build a battery factory in the US specifically to supply Volkswagen, and the two sides agreed to set up a joint venture battery company.

At present, SK Innovation has become a supplier of lithium-ion batteries for many car manufacturers such as Hyundai, Kia, Volkswagen, Daimler, Ferrari and so on. Besides, the company plans to invest USD 1.05 billion to build a battery factory in Yancheng, Jiangsu province, China.

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