Hyundai Motor Group -including Hyundai Motor and its sister company Kia Motors has reportedly decided to pick LG Chem as one of the battery suppliers for its upcoming new electric vehicles.
According to the news agency Reuters details of the supply contract including the electric vehicle (EV) model and the full amount of the deal, which are yet to be decided, will be confidential.
LG Chem did not respond to the queries.
Last year Hyundai said it will launch 16 EV models by 2025 with an aim to boost EV sales to 560,000 by then.