South Korea has passed a bill aiming for carbon-neutrality by 2050 as well as a large zero-emission transport budget for 2022. The National Assembly accelerated the targets for carbon reduction with the bill while the state aims to spent twelve trillion won ($10.3Bn) in 2022 on e-mobility.
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South Korean company Posco has started producing high-purity nickel for electric car battery cells. The factory in Gwangyang is expected to reach an annual nickel production of 20,000 tons by 2023, enough for 500,000 electric vehicles.
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Loop Energy, a Canadian company specialising in fuel cell systems for commercial vehicles, announces its first deal in South Korea. NGVI, a well-connected local manufacturer of hydrogen buses, has opted for Loop’s eFlow fuel cell platform.
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It looks like Hyundai has decided to postpone the start of production of the Ioniq 6 by two to three months to May or June 2022. The design is apparently to be revised again and the Ioniq 6 is to receive a larger battery for more milage.
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LG Energy Solution has concluded a binding long-term purchase agreement with Australian Mines for nickel and cobalt. The battery manufacturer thus secures access to 71,000 tonnes of nickel and 7,000 tonnes of cobalt for six years from the end of 2024.
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LG Energy Solution (LGES) is holding an international competition called the ‘Battery Innovation Contest’, which invites submissions of innovative battery technology ideas from now until the end of September. Winners can expect to receive 150,000 US dollars in research and development funding each year.
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The two car companies Geely and Renault plan to cooperate on the introduction of hybrid vehicles in China and South Korea. A corresponding memorandum of understanding has now been concluded.
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Samsung SDI is rumoured to produce part of the standardised battery cells for future electric cars announced by Volkswagen at Power Day. However, it remains to be seen what scope of development the South Korean company will be responsible for.
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SK Innovation has decided to spin off its battery business. The new company, provisionally named SK Battery, is to be founded on 1 October. In the second quarter, however, the division was still in the red.
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The announced joint venture between LG Electronics and Magna to manufacture electric motors, inverters and onboard chargers, as well as complete electric drive systems, has now been sealed. The joint venture’s management team is also now in place.
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The South Korean company Posco Chemical is planning to build another factory for cathode materials in its home country. This is to be built in the coastal city of Pohang and will have an annual capacity of 60,000 tonnes. But plans for plants abroad are also becoming more concrete.
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LG Chem is aiming to invest 6 trillion won (4.4 billion euros or 5.2 billion dollars) in the expansion of its battery materials business for electric cars by 2025. In this context, the South Koreans have announced that, among other things, they want to build a new factory for cathode material in South Korea’s Gumi.
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South Korean battery manufacturers Samsung SDI and LG Energy Solution have completed the development of samples of the larger 4680 battery cells that Tesla favours for its future production vehicles.
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South Korea’s first commercialized hydrogen electric boat has been unveiled at the 2021 Busan International Boat Show. Developed by Vinssen, the Hydrogenia vessel is powered by a Danfoss Editron electric drivetrain and sub-system. Vinssen is planning to build a further 50 boats using similar hydrogen electric technology over the next year.
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South Korea’s government wants to support domestic battery manufacturers with billions of dollars in investment. Not only the well-known industry giants such as LG Energy Solution, Samsung SDI or SK Innovation are to benefit from this, but also smaller companies. Concrete targets for individual battery technologies have also been set.
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SK Innovation has announced its intention to expand its production capacity to over 500 GWh by 2030. As part of its new strategy ‘From Carbon to Green’, the company, which was founded as an oil refinery, wants to invest heavily in the battery business, possibly also with external investors.
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Electric car manufacturer Polestar is exploring a wide-ranging alliance with South Korean conglomerate SK to advance the development of electric cars. The possible collaboration also includes a potential supply of SK batteries for upcoming Polestar vehicles.
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Hyundai will soon convert its plant in Asan, South Korea, for the future production of the all-electric Ioniq 6, according to a local media report. The plant already produces the Sonata and Granduer combustion sedans.
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LG Energy Solution has applied to the Korea Exchange for preliminary approval of an IPO. The company is also taking a stake in the Australian battery materials supplier Queensland Pacific Metals (QPM).
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The integrated drive module (iDM) from BorgWarner, including the electric motor, transmission and integrated power electronics, is to be used in small electric cars from the Hyundai Motor Group, production of which is scheduled to begin in mid-2023.
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A local business group has emerged in South Korea that is made up of 59 taxi, bus and logistics operators who have committed to phasing out their entire combustion fleets in favour of emissions-free options by the year 2030.
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The South Korean steel company Posco wants to set up a recycling business for lithium-ion batteries from electric cars together with the Chinese company Huayou Cobalt. The partners have already established a 65:35 joint venture called Posco Hy Clean Metal.
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BASF and Umicore have entered into a non-exclusive patent agreement covering a broad range of cathode materials and their precursors. The cross-licensing deal covers more than 100 patent families filed in Europe, the USA, China, Korea and Japan.
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In South Korea, Kia Motors and SK Innovation have joined forces to build a circular economy for electric vehicle batteries. This involves the follow-up use of end-of-life electric car batteries as stationary energy storage units as well as the recycling of materials such as lithium, nickel and cobalt.
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The South Korean steel company Posco has announced plans to build a factory in Gwangyang in S.Korea to extract lithium hydroxide for electric car batteries. The company also plans to invest in Argentina to further its electric vehicle ambitions.
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South Korean battery cell manufacturers SK Innovation and LG Energy Solution have reached a settlement in their year-long legal dispute. Both companies agreed to stop all legal proceedings in the US and South Korea and to refrain from suing each other for the next ten years.
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The South Korean steel company Posco wants to significantly expand its production capacity for bipolar plates for use in fuel cell vehicles. The production of fuel cell bipolar plates is to be expanded to 10,000 tonnes per year by 2027.
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The Russian nuclear corporation Rosatom has announced plans to build a battery factory. To help build capacities and expertise, Rosatom is taking a 49 per cent stake in Enertech International, a South Korean manufacturer of electrodes, lithium-ion cells and energy storage systems.
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The South Korean SK Group, which recently acquired almost ten per cent of the shares in the US fuel cell specialist Plug Power, presented a long-term, multi-billion-dollar plan to enter the hydrogen economy even more comprehensively.
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Hyundai has selected CATL as another battery cell supplier for its electric cars based on the E-GMP platform – but probably only those vehicles that will be launched after 2023. This was reported by South Korean media and Hyundai has yet to confirm the deal.
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