Hyundai has a new recipe for discounting electric cars

The Korea Herald reported that the local Hyundai Motors concern is intensively looking for ways to limit imports from China. One of them should be the development of an own and significantly improved type of LFP batteries. These are in principle significantly cheaper and safer than the usual NCM/NCA, but they offer a lower energy density. It was precisely this that the development laboratories focused on, and they allegedly managed to break the magical threshold of 300 Wh/kg, i.e. the usual values ​​for NCM batteries. It is this type that Hyundai should start producing in-house at the end of next year, even in cooperation with one of the domestic manufacturers of the caliber of LG Energy Solution, Samsung SDI or SK On. For this purpose, Hyundai will invest 9.5 trillion won (17 billion crowns) in the development of batteries over the next ten years.

The concern already uses LFP batteries in its cheaper Hyundai and Kia electric cars, but it is an import from the Chinese CATL. It should gradually be replaced by its own production from 2025, and this should help the concern to meet its goal of becoming one of the world’s three largest electric car manufacturers by the end of the current decade.