Hyundai Motor Company’s E-GMP 3rd order’note’ for large-scale investment
Order backlog of 550GWh from the beginning of the year…Sales of 70 trillion won secured
Achievements beyond half of LG Ensol and Samsung SDI
1Q China’s Huizhou and Yancheng plants begin mass production…
[서울=뉴스핌] Reporter Yoonae Lee = SK Innovation, which was considered a latecomer among the three domestic battery makers, is struggling. From the beginning of this year, there are striking news, such as investment in the third electric vehicle battery plant in Hungary and the selection of a third battery supplier for’E-GMP’, an electric vehicle platform exclusively for Hyundai Motor Group.
Not only this. SK Innovation’s electric vehicle battery order backlog exceeded 550GWh.
Converting this into sales is around 70 trillion won. Compared to LG Energy Solutions (150 trillion won), the second largest electric vehicle battery market in the global market, and Samsung SDI (50 trillion won), the fifth place, the growth seems clear.
It is interesting to note whether it will be possible to fly off the label of’later starter’.
◆ Hyundai Motor Company E-GMP 3rd battery supplier selection
According to related industries on the 2nd, on the 1st, Hyundai Motor’s 3rd E-GMP battery bidding was raised to be’SK Innovation’s exclusive selection’. Last year, the company participated in Hyundai Motor’s third E-GMP battery bidding process with three domestic battery companies such as LG Energy Solution and Samsung SDI, CATL and AESC in China. There have been observations that it was compressed.
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| [서울=뉴스핌] Reporter Ki-rak Kim = Rendered image of IONIQ brand product lineup (Ioniq 6, Ioniq 7, Ioniq 5 from left) [사진=현대차] 2020.08.10 [email protected] |
These three companies have a history of selecting suppliers such as SK Innovation in the first phase of E-GMP and LG Energy Solutions and CATL in the second phase. Among them, there have been some views that it would be difficult to select a supplier as LG Energy Solutions is fighting with Hyundai Motors after the Kona EV fire incident. As a result, the rumors of SK Innovation and CATL were raised, and it is interpreted that there was a theory that SK Innovation alone selected SK Innovation.
In particular, the 3rd E-GMP volume is estimated at a maximum of 20 trillion won, even compared to the 1st volume of 10 trillion won and the 2nd volume of 16 trillion won.
However, an official from Hyundai Motors said, “The 3rd E-GMP quantity will be selected by multiple companies,” and “The final decision has not been made because the selection work is currently in progress.”
◆’Athletes’ post-order expansion’ official breaks…builds a factory and wins aggressive orders
There is also an expectation for the selection of Hyundai Motors’ third E-GMP supplier, but investment in Europe is also raising considerable expectations. It broke the formula of’expansion after player stocks’, which was a battery investment method so far. The strategy is to open a shovel for the construction of the factory first, and then fill in the quantity by proceeding with orders.
The European market is expected to grow explosively from this year, and battery orders are expected to pour out at a record level. As of last year, battery demand in Europe is expected to increase more than 6 times from 41GWh to 256GWh in 2025. SK Innovation’s large-scale facility investment is also read as a confidence that it can win many orders.
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| [서울=뉴스핌] Reporter Yunae Lee = SK Innovation Hungary Plant 1 [사진=SK이노베이션] 2021.01.29 [email protected] |
The third electric vehicle battery plant in Hungary, which was announced last week, is the largest single plant the company has invested so far. Plant 1 (completed in 2019), located in Komarom, Hungary, is 7.5GWh, and plant 2 (mass production in the first quarter of 2022) is 9.8GWh. On the other hand, the third plant is 30GWh, which is larger than the two combined. It is a level that can be supplied to about 430,000 units based on electric vehicles that can run more than 400km on a single charge. SK Innovation aims to complete construction by 2028 with a total investment of 2.6 trillion won.
An official from SK Innovation said, “The number of battery orders from automakers in Europe is increasing significantly.” “Some of the 30GWh included orders, and some of them will be filled through new orders.”
The expansion of global production bases is also taking place at a considerable pace. In addition to the currently operating domestic plant in Seosan, Hungary, and Changzhou in China, the Huizhou and Yancheng plants in China will start mass production in the first quarter of this year. Plants 1 and 2 under construction in Georgia, USA, will be operational from the first quarter of next year and the first quarter of 2023.
Through these factories, it is expected to secure 85GWh production capacity by 2023 and 125GWh by 2025.