- Hyundai Motor is in the process of developing new Lithium iron phosphate (LFP) batteries for future EVs, which could carry an industry-leading energy density figure.
- The high density would make them the perfect application for both compact and more affordable EVs from Hyundai and Kia, occupying a smaller footprint.
- Hyundai are targeting an energy density of 300 Wh/kg, which compares to figures around the 200 Wh/kg mark from established LFP manufacturers such as BYD.
Higher density EV battery from Hyundai in the works
As originally reported by The Korea Herald, Hyundai Motor is hoping to finish development of such LFP batteries as early as 2025, with the batteries finding their way into compact entry-level EVs from Kia and Hyundai in the same year. Development of these higher-energy has taken place with local battery manufacturers who already carry significant EV battery expertise, such as Samsung SDI and LG Energy Solution.
If the development of more energy-dense LFP units is successful, it would allow Hyundai Motor Group to reduce its reliance on Chinese EV battery manufacturers, with the manufacturer already relying on batteries sourced from firms such as CATL, in addition to local suppliers. This in-house operation would allow the group to more closely control battery costs. Across the industry as a whole, EV battery prices are already predicted to drop nearly half by 2026.
On a mass production scale, Hyundai will also be able to create the batteries at a cheaper unit cost than purchasing batteries from third parties, reducing the cost of its electric cars. Additionally, the possibility of fitting more energy into a smaller footprint means future small EVs from the OEM could pack even more impressive range figures. For reference, the new compact INSTER EV is capable of travelling 220 miles between chargers – impressive, for its segment.
