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MOSCOW (MRC) -- Hyundai Motor Group and
SK Innovation Co. have agreed to cooperate in the development of a sustainable
ecosystem for electric vehicle (EV) batteries that are key to the future
mobility industry, said Chemweek.
The
two parties announced today 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 Kia Motors’ Niro EV
model.
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
Motor Group 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.
"Hyundai Motor Group’s cooperation with SK Innovation, a
first-tier battery supplier for our Electric Global Modular Platform (E-GMP)
that will be introduced in 2021, marks a critical first step in maximizing
synergies between mobility and battery companies,” said Youngcho Chi, President
and Chief Innovation Officer of Hyundai Motor Group. “We expect our cooperation
to play an immensely positive role in strengthening Hyundai-Kia’s
competitiveness in clean mobility as well as expanding the supply of
eco-friendly EVs."
"This collaboration between Hyundai Motor Group, which
is leading the popularization of EVs in the global market, and SK Innovation,
which possesses the advanced technology in battery development and recycling, is
highly meaningful in that the two have joined forces to collaborate across the
entire EV cycle,” said Dongseob Jee, President of SK Innovation’s Battery
Business. “Both companies will create a seamless collaboration system to explore
new business opportunities across the whole battery value chain."
Apart
from collaborating with SK Innovation, Hyundai Motor Group is striving to secure
and open up new markets by collaborating with global players specializing in EV
battery reuse, including Korea Hydro & Nuclear Power Co., Wartsila, OCI, and
Hanwha Solutions. The Group, via the collaboration with SK Innovation Co., plans
to fundamentally reinforce its technological competitiveness by securing
technology and infrastructure, and expand its business areas.
Ethylene
and propylene are feedstocks for producing polyethylene (PE) and polypropylene
(PP).
According to MRC's DataScope report, PE
imports to Russia dropped in January-June 2020 by 7% year on year to 328,000
tonnes. High density polyethylene (HDPE) accounted for the main decrease in
imports. At the same time, PP imports into Russia rose in the first six months
of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer
(homopolymer PP) accounted for the main increase in imports. |
