■Jointly developing electric vehicle batteries with mass production and installation to vehicles expected to start in 2024

■Building a new partnership model for automakers and battery manufacturers, laying the groundwork for industrial growth

Hyundai Motor – Kia and SK Innovation announced on the 16^th that they will be collaborating on the development and production of Hybrid Electric Vehicle (HEV) batteries.

Hyundai Motor – Kia and SK Innovation are working together with the goal of developing and mass-producing pouch-type batteries optimized for electric vehicles and applying the batteries to actual vehicles. The batteries jointly developed by the two companies will start to be topped on Hyundai HEVs that are expected to launch in 2024.

This partnership between the global automaker Hyundai Motor – Kia and SK Innovation, a rapidly growing contender in the battery market, is expected to further strengthen South Korea’s battery technology and competitive power.

They will be closely cooperating from the stage of designing to product evaluation and performance improvement to develop batteries optimized to the characteristics of the vehicles to be launched by Hyundai Motor – Kia. They aim to develop batteries that not only exhibit optimal performance according to various mobility but are also highly economically efficient.

With this, the two companies have built a new partnership model for automakers and battery manufacturers. By expanding the area of collaboration that leads the industrial ecosystem beyond the simple supplier-buyer relationship, their cooperative relationship has been further strengthened.

Both sides believe that this joint development and partnership model will be an innovative way to mutually lay the groundwork for the growth of electric vehicles and battery industry, in which although the design and production processes are separated, it is connected by a value chain.

This is the fruit of the two companies collaborating for over 10 years in the area of electric cars and batteries through various programs.

Starting from 2010 with the battery of “BlueOn,” the first electric car in South Korea, Hyundai Motor – Kia and SK Innovation have continued to collaborate on “Ray EV,” the first mass-produced electric car in South Korea, and “Soul EV,” the first electric car to be exported overseas, as well as on “IONIQ 5” and “EV6” from “E-GMP,” the first electric car-dedicated platform of Hyundai Motors – Kia.

As a leading manufacturer in the global electric car market, Hyundai Motor – Kia will design the hybrid car batteries using its accumulated expertise in battery technology and world-class vehicle design technology. In addition to directly selecting and verifying materials that determine the performance and safety of the batteries, specifications will also be selected based on the company’s expertise in manufacturing including the ratio of application, etc.

Through this, Hyundai Motor – Kia aims to vastly enhance battery performance and further strengthen its leadership in the market.

SK Innovation possesses a world-class high-performance battery technology, excellent safety, and manufacturing expertise. As its technology has become recognized, it was selected by Hyundai Motor – Kia as its joint development partner for hybrid car batteries. SK Innovation will be cooperating with Hyundai Motor – Kia in areas such as development, mass production, and quality assurance based on their outstanding technology to create high-quality batteries. In addition, it is expanding its partnership model with various other global automobile companies aside from Hyundai Motor – Kia.

“Through our partnership model with global battery technology company SK Innovation, we will be able to further upgrade the competitive power of eco-friendly vehicles,” said Park Chan-young, Head of Hyundai Motor – Kia’s Powertrain Parts Purchasing Division. “We will be cooperating in all areas including battery development, mass-production, and quality assurance.”

Rhee Jang-weon, Head of SK Innovation’s Battery Technology Institute, said, “We are very pleased to strengthen the cooperation in developing electric car batteries with Hyundai Motor – Kia, a company with the most competitive power and advanced technology in the automaker industry.” “The two companies will lead the future mobility industry through our synergy with SK Innovation’s outstanding battery technology and manufacturing safety,” he added.

[Photo]

Representatives of Hyundai Motor Group and SK Innovation pose for a photo on April 16, 2021, after signing an agreement to jointly develop the battery system for Hyundai’s hybrid electric vehicles. From left: Head of Hyundai Motor’s Electrification Development Center Choi Woo-suk, Head of SK Innovation’s Battery Marketing Division Kim Yoo-suk, Head of Hyundai Motor – Kia’s Powertrain Parts Purchasing Division Park Chan-young, Head of SK Innovation’s Battery Technology Institute Rhee Jang-weon.