According to foreign media reports, with the increase in the demand for electric vehicles, the demand for batteries, a key component, has also increased significantly. Major manufacturers committed to the development of electric vehicles are also taking various measures to ensure stability. For battery supply, some manufacturers are self-developing and producing, some manufacturers have signed long-term supply contracts with battery manufacturers, and some manufacturers choose to build joint venture factories with battery manufacturers.
According to the latest news, Hyundai Motor Group, which is vigorously developing electric vehicles, will build a joint venture battery factory in the United States with SK On, a battery manufacturer under SK Group.
Hyundai Motor and Kia, a subsidiary of Hyundai Motor Group, have announced on their official websites that they will build a joint venture battery factory with SK On in the United States.
According to news released by Hyundai Motor and Kia, they and the board of directors of Hyundai Mobis, an auto parts manufacturer under Hyundai Motor Group, have approved plans to build a joint venture factory with SK On in the United States.
Hyundai Motor also disclosed that their battery factory, a joint venture with SK On, is planned to be built in Barto County, Georgia. Each holds 50% of the shares with SK On, and the planned annual production capacity is 35GWh, which can meet the demand for the production of 300,000 electric vehicles.
