South Korea is equivalent to “war” on the battery market

South Korea is equivalent to

The South Korean government wants to support the domestic battery manufacturers with billions of investment. Of which not only the well-known industry sizes such as LG Energy Solution, Samsung SDI or SK Innovation will benefit, but also smaller companies, reports “Electrive.Net “citing the” Korea Herald “. Accordingly, concrete goals for individual battery technologies were also decided.

By 2030, manufacturers such as LG Energy Solution, Samsung SDI and SK Innovation want around 40 trillion WON (30 billion euros) want to invest, states – in research and development, but also the production. The government should help on tax incentives and other supports, as evidenced by the now published “K-Battery Strategy” as a public-private partnership.

“The K-Battery Industry is an essential industry that opens the door into the future,” South Korea’s President Moon Jae-in at an event in the Battery plant of LG Energy Solution in Ochang quoted. “It’s an industry in which we have taken the global initiative, and it is an area where we need to ensure a more comprehensive initiative.”At the event, representatives of the competitors Ski and Samsung SDI participated.

The South Korean battery manufacturers belong to the industry leaders, companies like Catl from China had recently broken the supremacy. “The global competition just begins, as the USA, Europe and China take steps to build their own manufacturing infrastructures, battery technologies and supply chains,” quotes the “Korea Herald” an official of the Industrieeminium. “The next five years will decide the position of each country on the global battery market.”He talked further martial from a” total war “to prepare with the strategy.

With the mentioned billion investments, the three main goals of the plan should be achieved: the backup of competitive battery technologies, the construction of a robust ecosystem and the creation of new markets. As announced at the event, lithium-sulfur batteries up to 2025, solid-state batteries up to 2027 and lithium-metal batteries should be marketed according to the “K-Battery Strategy”. By 2026, a “Battery Park” should be built, in which researcher can develop and test batteries of the next generation.

A similar strategy had South Korea loud “Electrive.net “announced in April for the semiconductor industry. The government also speaks a key role for the economic development of the country too – similar to vaccines. That South Korea wants to promote the battery industry in connection with electromobility, had already signed in February. At that time, a “shoulder closure with the auto industry” was announced, as the goal of the prices for E-cars until 2025 to decrease at least 7500 euros decreased. Part of these efforts are cheaper batteries.

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3 thoughts on “South Korea is equivalent to “war” on the battery market”

  1. 78 years ago, one has ever demanded the total war and fortunately too totally failed. Whoever once again demands today should have to pay the ultimate price in the very first row. I will certainly reconsider a future car purchase from South Korea. Pretty crass as desperate so someone has to be. As before 78 years ago.

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  2. As in the past – to relocate everything into the cheap foreign countries – will no longer be going in the future, which also shows the current problems with chips and drugs.

    For batteries, Europe will take billions in hand and have to build up their own battery production, otherwise the batteries will come in the future with an E-car drummerum from Asia.

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  3. 30 billion euros.
    That’s a lot of capital for the future.
    Here you can feel the courage and motivation against the big Chinese opponent.
    In contrast, the efforts of German industry are ineffective.
    Except for declarations of intent, investment presentations, visions of the Golden Battery Age and the Standing Publications of allegedly new breakdowns, something happens here in the future.
    Only the question remains: What happens in Germany?
    Here you can only be viewers and hope that you get a piece for the production of Bev’s.
    Because in the future in Germany, nothing can be achieved in Germany, but the development and investment has already left.
    German workplaces with health and pension insurance are not available here.
    Such risks go to German car compilations, listed as a DAX Group, never.
    These can otherwise cheaper, unfortunately.

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