Hyundai and SK Innovation have agreed to cooperate in the development of a sustainable ecosystem for electric vehicle (EV) batteries that are key to the future mobility industry.
The two parties announced their plan to cooperate in diverse business areas related to the EV battery industry, including battery sales solutions, battery management service and battery reuse and recycling.
The collaboration stems from the companies’ shared need to create a battery value chain and strengthen eco-friendliness in business operations covering the entire lifecycle of EV batteries.
Unlike existing cooperation schemes between mobility companies and battery companies that tended to center on battery supply, the Hyundai-SK cooperation aims for a virtuous cycle of battery usage known as the Battery as a Service (BaaS), which includes lease or rental service. As a result, the cooperation is expected to catalyse the spread of diverse cooperation systems between mobility and battery companies.
Through this partnership, the two parties aim to strengthen the stability of the battery supply chain and create a virtuous cycle of resources from recycling to production; reduce carbon emissions; encourage optimal design that connects EVs and battery reuse, and create synergies by maximizing added value through the optimal design of batteries.
To enable cooperation, both sides are focusing on the initial process of collecting and verifying the battery pack of the Kia Niro EV.
In particular, the two companies will seek solutions that can maximize value and eco-friendliness of EV batteries, including reuse of batteries that are no longer useable in vehicles in diverse applications such as the Energy Storage Systems (ESS); and battery recycling that extracts economically valuable metals such as lithium, nickel and cobalt.
These innovations are expected to enhance the value and competitiveness of the battery recycling industry, which will buttress the future EV era.
Furthermore, Hyundai and SK Innovation plan to synergize their respective affiliates’ business infrastructures and capabilities spanning diverse industries, thereby strengthening their battery competitiveness and expanding the growth of related sectors.
Apart from collaborating with SK Innovation, Hyundai is striving to secure and open up new markets by collaborating with global players specializing in EV battery reuse, including Korea Hydro & Nuclear Power, Wärtsilä, OCI, and Hanwha Solutions. Hyundai, via the collaboration with SK Innovation Co., plans to fundamentally reinforce its technological competitiveness by securing technology and infrastructure, and expand its business areas.
The two parties announced their plan to cooperate in diverse business areas related to the EV battery industry, including battery sales solutions, battery management service and battery reuse and recycling.
The collaboration stems from the companies’ shared need to create a battery value chain and strengthen eco-friendliness in business operations covering the entire lifecycle of EV batteries.
Unlike existing cooperation schemes between mobility companies and battery companies that tended to center on battery supply, the Hyundai-SK cooperation aims for a virtuous cycle of battery usage known as the Battery as a Service (BaaS), which includes lease or rental service. As a result, the cooperation is expected to catalyse the spread of diverse cooperation systems between mobility and battery companies.
Through this partnership, the two parties aim to strengthen the stability of the battery supply chain and create a virtuous cycle of resources from recycling to production; reduce carbon emissions; encourage optimal design that connects EVs and battery reuse, and create synergies by maximizing added value through the optimal design of batteries.
To enable cooperation, both sides are focusing on the initial process of collecting and verifying the battery pack of the Kia Niro EV.
In particular, the two companies will seek solutions that can maximize value and eco-friendliness of EV batteries, including reuse of batteries that are no longer useable in vehicles in diverse applications such as the Energy Storage Systems (ESS); and battery recycling that extracts economically valuable metals such as lithium, nickel and cobalt.
These innovations are expected to enhance the value and competitiveness of the battery recycling industry, which will buttress the future EV era.
Furthermore, Hyundai and SK Innovation plan to synergize their respective affiliates’ business infrastructures and capabilities spanning diverse industries, thereby strengthening their battery competitiveness and expanding the growth of related sectors.
Apart from collaborating with SK Innovation, Hyundai is striving to secure and open up new markets by collaborating with global players specializing in EV battery reuse, including Korea Hydro & Nuclear Power, Wärtsilä, OCI, and Hanwha Solutions. Hyundai, via the collaboration with SK Innovation Co., plans to fundamentally reinforce its technological competitiveness by securing technology and infrastructure, and expand its business areas.
