Kia's electric cars sold in South Korea will use CATL batteries

On June 22, Reuters quoted the "Korea Ilbo" as saying that South Korea's Kia Motors has decidedto use China's CATL batteries in itselectric vehicles sold in South Korea.This is also the first time that Kia Motors has used batteries from other countries in vehicles sold in South Korea.

Image credit: Niro

"Korea Daily" said that Kia insiders revealed that Kia's electric crossover SUV model Niro will use batteries from the Ningde era.In making this decision, Kia also considered cost competitiveness.Kia has not yet informed customers of this decision.Kia and CATL have yet to comment on the report.

Reuters pointed out that so far, Hyundai Motor and Kia Motors sold electric vehicles in the South Korean market using batteries made by South Korean companies, including LGNew Energy(LGES) and SK Innovation's SK On.

In the U.S., Hyundai Motor Group announced plansin May toset up a battery factory in the U.S. through a strategic partner, saying it would announcedetailsat a later date .Earlier, South Korean media TheElec reported that Hyundai Motor Group and SK On were in talks to establish a battery joint venture in the United States.

CATL is the world's largest battery maker, with customers including Tesla and Volkswagen.According to data released by SNE Research, a South Korean market research institution, in the first four months of this year, CATL dominated with an installed capacity of 41.5 GWh and a market share of 33.7%; LGES (14.9%), SK ON (7%) and Samsung SDI (4 %) with a combined market share of nearly 26%.