‘8 trillion won’ Hyundai electric vehicle battery supply… SK and China’s leading CATL

The battery companies that will supply the third part of Hyundai Motor Group’s exclusive electric vehicle platform’E-GMP’, which is known to be worth about KRW 8 trillion, are being compressed with SK Innovation and Chinese CATL. The battery supply candidates, which began bidding in September last year, include SK Innovation, LG Energy Solution, Samsung SDI, and Chinese battery maker CATL.

According to the parts industry on the 1st, SK Innovation and CATL were included as preferred bidders in the battery sector in relation to the third E-GMP division. In this regard, an industry official who requested anonymity said, “We believe that SK Innovation will take on the role of the main vendor (major supplier) and CATL as the multi-vendor role.” SK Innovation is also supplying batteries to’Ioniq 5′, which will be released next month. It is known that Hyundai Motor Company will decide on a battery supplier before and after the Lunar New Year holidays.

The 3rd volume of E-GMP is expected to be installed in Hyundai’s’Ioniq 7’and Kia’s upcoming large sports utility vehicle (SUV) electric vehicle. The Ioniq 7, which will debut in 2023, is a Palisade-class large SUV model.

Hyundai Motor Company plans not to entrust the battery volume for Ioniq to a single company (single vendor). This is to encourage competition among suppliers and stabilize the battery supply chain. In some cases, it is possible to allocate a small amount to Samsung SDI, which has put its price competitiveness ahead. Samsung SDI challenged E-GMP bidding by offering attractive prices to Hyundai Motor Company. However, since Samsung SDI bids for a prismatic battery, it is different from the pouch-type battery that Hyundai Motors prefers.

On the day, an official from Hyundai Motor Company said, “We are planning to select multiple suppliers for electric vehicle battery quantities, and the selection work is ongoing.”

Reporter Kim Young-min [email protected]