Hyundai partners with Seoul University to develop next-generation EV batteries

Park Sae-jin Reporter() | Posted : November 3, 2021, 15:47 | Updated : November 3, 2021, 15:55

[Courtesy of Seoul National University]

SEOUL -- Targeting the global electric vehicle market, which is projected to stand at $802 billion by 2027, South Korea's Hyundai auto group has forged a partnership with a domestic university to set up a research center that will develop cheaper and powerful next-generation batteries.

The battery is a key component of electric vehicles because the total travel distance of a car mainly depends on the type and capacity of its pricey battery pack. While lithium-ion batteries are mainly used, many EV makers are trying to produce next-generation batteries that are cheaper and have a larger capacity to lower the entry huddle for new customers and accelerate the popularization of clean energy vehicles.

Hyundai said in a statement on November 3 that the carmaker signed a memorandum of understanding with Seoul National University to cooperate in the development of next-generation batteries by injecting some 30 billion won ($25.3 million) for 10 years. A joint research center will be constructed by the end of 2022.

The research center aims to develop new technologies related to battery management systems, solid-state batteries, lithium metal batteries, and other advanced batteries, Hyundai said, adding the project will help South Korea become the main player in the global race for the reduction of carbon emissions.

"Advanced battery technologies will accelerate the wave of electricalization that will become an undefiable big trend," Hyundai Chairman Chung Eui-sun was quoted as saying. Hyundai seeks to increase its share in the global market with both high-end and affordable EV models. The auto group has released the electric version of its full-size sedan, G80, and GV60, an electric sport utility vehicle, as well as Ioniq 5, an electric SUV, and EV6, an electric crossover utility vehicle.
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