Chiefs of Hyundai Motor, LG to meet over EV battery biz

Hyundai Motor Group Executive Vice Chairman Chung Euisun is scheduled to meet LG Group Chairman Koo Kwang-mo next week to discuss electric vehicle battery business, industry sources said Friday. 

This comes less than a month after the heir apparent of South Korea’s largest automaker met Samsung Electronics Vice Chairman Lee Jae-yong to discuss next-generation EV batteries in Cheonan on May 13. They reportedly exchanged opinions on the current situation and the directions for development of all solid batteries at the Samsung SDI plant.

According to industry sources, Chung will visit LG Chem’s EV battery production site located in Cheongju, North Chungcheong Province, on Monday.

LG Chem has been a core partner for Hyundai Motor for EV production. The company has been designated as a battery provider for the pure EV platform called E-GMP slated for a 2022 launch.

Industry insiders are of the view that that Chung has been meeting with the other Korean conglomerates to seek partnerships for EV development. It is highly likely that he will visit another EV battery partner SK Innovation in the near future. 

By Kim Da-sol (ddd@heraldcorp.com)