Top choice: Kia Motors Corp vehicles awaiting delivery from a plant in Gwangju. The Hyundai Motor Co affiliate has decided to use batteries made in China for EVs sold domestically. — AP
SEOUL: South Korea’s Kia Corp has chosen batteries from China’s Contemporary Amperex Technology Co Ltd (CATL) for an electric vehicle (EV) to be sold domestically, a newspaper said yesterday
This will be the first time it will use EV batteries from another country for local sales.
The Hyundai Motor Co affiliate has decided to use CATL batteries for its electric crossover sports utility vehicle Niro to expand its battery vendors, Hankook Ilbo newspaper reported, citing an unnamed Kia official.
The automaker also factored in cost-competitiveness when making its decision, the report said. ia and CATL were not immediately available for comment when contacted for comment.
The newspaper said Kia had not yet disclosed its decision to adopt CATL’s batteries to its customers.
Hyundai and Kia have so far used batteries made by South Korean firms, including LG Energy Solution Ltd and SK Innovation’s SK On, for electric vehicles for the South Korean market.
CATL, is the world’s largest battery maker with more 35% of the global EV battery market share, according to industry tracker SNE Research. — Reuters
