SK On, the battery division of the South Korean company SK Innovation, which was spun off in autumn 2021, will receive 2.8 trillion won in additional capital to expand its business. Converted, this currently corresponds to around 2 billion euros.
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SK Innovation and the recycling specialist SungEel HiTech want to launch a battery recycling joint venture in Korea. Both sides have just signed a letter of intent. The joint venture is to be founded next year.
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LG Energy Solution has announced a total investment of 4 trillion won (€2.9 billion) by the end of 2026 in its Ochang plant in South Korea to increase production capacity for electric car round cells and build a new research and development centre.
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Hyundai is looking to transform the island of Jeju, South Korea, into a hydrogen showcase. 1,700 fuel cell vehicles will eventually operate and refuel on Jeju once the works are completed by 2030. The project is part of Korea’s bid to become a hydrogen economy.
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SK E&S will supply 1,000 hydrogen buses to Busan to support the bid by South Korea’s second-largest city to host World Expo 2030. The energy company signed a memorandum of understanding (MOU) with city authorities and Hyundai.
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Stoffel Vandoorne has won the Formula E championship. At the final race weekend in Seoul, a fifth and a second place were enough for the Mercedes EQ driver to win the title. The manufacturers’ championship also went to Mercedes for the second year in a row.
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The South Korean EV charging provider Charzin has joined Hubject’s e-roaming platform intercharge to enable subscribers to use their cards in the US and Europe. Hubject also provides Plug&Charge services to European EVs sold in Korea.
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Samsung SDI is preparing a pilot line for the production of 4680 battery cells for Tesla at its Cheonan plant in South Korea, according to Korean media. The first equipment for the production lines is said to have already been ordered.
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LG Electronics has acquired AppleMango, an EV charger manufacturer from South Korea, together with GS Energy and GS Neotek. LG says the acquisition will help it create “fully-featured charging stations” and integrate the existing charging management system developed in-house.
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German supplier Webasto has commissioned a new plant to assemble batteries for passenger electric cars in Dangjin, Korea, south of Seoul. The Group already holds an order from Hyundai-Kia to supply battery systems for several fully electric volume models.
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LG Energy Solution has announced the construction of a new production line at its Ochang plant in South Korea for 4680 round cells. The line is expected to have an annual production capacity of 9 GWh – and apparently produce cells for Tesla.
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LG Chem has formed a joint venture with B&M, a subsidiary of the Chinese company Huayou Cobalt, to produce cathode materials. A second joint venture is to be set up with Kemco to manufacture precursors for cathodes.
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Hyundai will soon cease production of the Ioniq. According to the South Korean carmaker, production of the model, which is available as a BEV, PHEV and HEV, will end at the Ulsan plant in July.
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The electric car manufacturer Polestar has launched a referral programme in Europe, South Korea and the USA. However, the Polestar offer is not intended to be as extensive as Tesla’s referral programme, which has since been discontinued.
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Hyundai and Kia plan to invest 21 trillion won (just under $17 billion) in electric car production in South Korea by 2030. The goal is to increase annual production from an estimated 350,000 units this year to 1.44 million units in 2030.
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The South Korean steel group Posco has entered into a cooperation with the Taiwanese solid-state battery cell manufacturer ProLogium. In addition to an undisclosed investment in ProLogium, the agreement provides for the joint development of components for ProLogium’s solid-state batteries.
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In Korea, SK On –the battery division of the South Korean company SK Innovation – has signed a ‘Business Agreement on Establishing Standards for EV Battery Status and Valuation’ with the Korea Automotive Inspection and Warranty Association (KAIWA).
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Kia has presented the Niro Plus, an optimised version of the first generation of its Niro EV for taxi services and ride-hailing providers. Compared to the standard model, the length and height of the Niro Plus have been increased by 10 mm and 80 mm, respectively, to provide more space in the interior.
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The tyre manufacturer Hankook is launching its first tyre family, iON, on the market from May 2022, which has been specially developed for electric vehicles. Among other things, these will not only have a reduced rolling resistance and low-noise rolling behaviour but will also be designed for the high torques of electric cars.
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The South Korean battery cell manufacturer Samsung SDI has started building a pilot line for solid-state batteries. Samsung SDI is planning plants and systems for the production of cathodes and solid electrolytes as well as the introduction of new production processes there.
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The South Korean government wants to remove hybrid cars from its list of environmentally friendly cars from 2025 or 2026. This would mean that owners of cars with hybrid drives would no longer enjoy tax benefits and purchase bonuses. Instead, electric two-wheelers are to be promoted in future.
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A British-Korean company called Eurocell has announced plans to build a ‘gigafactory’ for battery cells in Western Europe. This will also produce cells for electric cars and will be built in two phases with an initial investment of 600 million pounds.
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The Seoul city government said it will pay subsidies to buyers of about 14,200 electric vehicles during the first half of 2022, as part of its bid to support the purchase of 27,000 electric vehicles for the whole year.
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California-based electric car start-up Faraday Future has announced a partnership with South Korean carmaker Myoung Shin for the production of its second model FF 81.
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In South Korea, a total of 624 hydrogen buses are to be put on the roads of the port cities of Busan and Ulsan and the province of South Gyeongsang by 2025 as a replacement for buses with combustion engines.
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SK Innovation has revealed that it will be collaborating with a research team led by Professor Lee Seung-woo of Georgia Tech in the United States with the aim of advancing “the era of next-generation all-solid-state batteries.” SK Innovation is not only conducting its own research but putting efforts to develop all-solid-state batteries actively cooperating with […]
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Polestar is now launching its Polestar 2 on the South Korean market. Prices for the electric sedan start at 54.9 million won for the single-engine version and 57.9 million won for the dual-engine variant. Orders are available now and deliveries are scheduled to begin in mid-March.
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LG Chem will invest 475.4 billion won (about 354 million euros) in a cathode materials plant, according to the Korean Ministry of Trade. Construction of the plant with a planned annual capacity of 60,000 tonnes in the South Korean city of Gumi is to begin this month.
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Samsung SDI is marketing its current and future batteries for electric vehicles, among others, under the new brand ‘PRiMX’. The brand registration for PRiMX has been completed in South Korea and Europe and is expected to be completed in the USA shortly.
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Albert Biermann, head of Hyundai Motor Group’s research and development department, is retiring. Biermann led the development of new Hyundai, Genesis and Kia models and the E-GMP electric platform. His successor has already been named.
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