Korean auto industry
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Korea JoongAng Daily · South Korea · Huayou Cobalt signed a Hyundai MoU, joined a 20 GWh Indonesia battery JV, and partnered with tozero on European recycling
Reports the Huayou-Hyundai MoU in the context of Hyundai's battery supply diversification strategy: Hyundai is qualifying multiple cathode suppliers to reduce dependency on CATL and Samsung SDI for next-generation EV platforms. The MoU with Huayou covers both NMC and LFP cathode formulations; Hyundai confirmed it is not shifting to a single-supplier model for battery materials.
“Hyundai's MoU with Huayou covers NMC and LFP cathode supply as part of multi-supplier diversification; Hyundai is qualifying multiple cathode sources to reduce CATL and Samsung SDI dependency.”