Korean battery maker SK On secured a $9.6 billion loan from the U.S. government for its three battery manufacturing facilities in Kentucky and Tennessee, a jointly investment with Ford Motor.
Korea's EV-related push in the United States hangs in the balance with the presidential election as the candidates take opposite positions on the green energy push.
Hyundai and Kia have partnered with Hyundai Steel and EcoPro BM to develop lithium iron phosphate batteries without precursors, a massive cost-reduction method.
The Mercedes-Benz EQE EV that exploded in Incheon in August was found to have batteries by Farasis, a relatively unknown Chinese battery maker.
Samsung SDI and General Motors will together invest $3.5 billion to build a battery plant in Indiana as EV sales are stalling in global markets.
LG Energy Solution will start selling its battery safety diagnostics software with an accuracy rate of more than 90 percent as EV safety concerns rise.
The rapidly-spreading EV-phobia triggered by a recent EV explosion could be a nightmare for Korean battery makers who are already suffering from sharply dropped battery sales in the wake of cooling consumer demand in the global markets.
"Driving can be restricted as abnormal signals have been detected. Please call Hyundai Motor's emergency dispatch center for immediate support."
Audi, Volkswagen, and Stellantis disclosed battery details for their EV models in Korea after public fear of EV fires.
The company is down 57.6 percent on year, according to a preliminary earnings announcement Monday, falling considerably short of market expectations.
Korea JoongAng Daily Sitemap
