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Hyundai Motor to build EV battery joint venture with LG Energy Solution By Reuters

Hyundai Motor to build EV battery joint venture with LG Energy Solution

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© Reuters. FILE PHOTO: The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo

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SEOUL (Reuters) – Hyundai Motor announced on Friday it plans to invest 1.43 trillion won ($1.1 billion) to build an electric battery joint venture with LG Energy Solution in North America.

The joint venture will invest a total of 5.7 trillion won over the next six years to gain competitiveness in the North America automotive market, the company said in a regulatory filing.

($1 = 1,320.9300 won)

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