Hyundai Motor set to deepen ties with CATL on sidelines of APEC

Hyundai Motor Group Executive Chair Chung Euisun is set to elevate the carmaker's battery alliance in a possible meeting with Zeng Yuqun, chairman of Chinese battery giant CATL, on the sidelines of the upcoming Asia-Pacific Economic Cooperation (APEC) meetings. Both business leaders will participate in the four-day APEC CEO Summit, set to begin Tuesday in Gyeongju, North Gyeongsang Province. Details on the specific location and timeline for their symbolic meeting have not been confirmed. The head of the world’s largest electric vehicle (EV) battery maker is widely expected to discuss the possibility of expanding its battery supply to more EV lineups of Hyundai Motor and Kia. Hyundai Motor Group is also standing at a critical juncture where it has to achieve deeper inroads particularly into the lucrative European EV market. CATL is already supplying lithium iron phosphate (LFP) batteries for Hyundai Motor’s Kona Electric, along with Kia’s Niro EV and Ray EV. The Chinese battery maker in July also began supplying nickel cobalt manganese (NCM) batteries to Kia’s EV5 electric SUV. ForWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times