The four companies aim to synthesize materials directly without creating a precursor for LFP battery cathode production in the four-year project supported by the South Korean Ministry of Trade, Industry and Energy, according to the country’s No.3 conglomerate.“Through this project, we aim to reduce import reliance and enhance the technological competitiveness of the country and Hyundai Motor Group by internalizing necessary technologies,” said Jung Soonjoon, vice president and head of the electrification and driving materials development group for Hyundai Motor Co.and Kia.
The group said on Thursday its two automaking units -- Hyundai Motor Co.and Kia Corp.-- launched a project to develop lithium iron phosphate (LFP) battery cathodes in collaboration with their affiliate Hyundai Steel Co.and a leading domestic cell material manufacturer EcoPro BM Co.
Hyundai Motor Group, the world’s third-largest carmaker, started developing electric vehicle battery technology to cut costs and use Chinese precursors less to help US EV customers conform to Washington’s requirements for clean car federal tax benefits.
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