{"id":79349,"date":"2023-09-04T01:00:07","date_gmt":"2023-09-04T01:00:07","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/09\/04\/hyundai-plans-to-acquire-5-stake-in-korea-zinc-as-it-expands-ev-battery-supply-chain\/"},"modified":"2023-09-04T01:00:07","modified_gmt":"2023-09-04T01:00:07","slug":"hyundai-plans-to-acquire-5-stake-in-korea-zinc-as-it-expands-ev-battery-supply-chain","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/09\/04\/hyundai-plans-to-acquire-5-stake-in-korea-zinc-as-it-expands-ev-battery-supply-chain\/","title":{"rendered":"Hyundai plans to acquire 5% stake in Korea Zinc as it expands EV battery supply chain"},"content":{"rendered":"

Hyundai to buy 5% stake in world\u2019s largest zinc smelter:<\/strong> South Korea\u2019s giant automaker Hyundai Motor Group will buy a 5% stake \u2014 worth KRW 527.2 bn (USD 398 mn) \u2014 in Korea Zinc to ensure access to key metals used in making EV batteries, Bloomberg<\/a> reported last week. The group also signed an agreement with Korea Zinc to jointly procure, process, and recycle zinc, with a target to purchase 50% of the metal through the partnership by 2031 to meet Hyundai\u2019s EV battery demand. This comes under efforts to meet regulations set by the US\u2019 Inflation Reduction Act incentivising automakers to produce EV components outside of China. Hyundai plans to be one of the world's top three EV makers by the end of the decade by producing 3.64 mn vehicles annually.<\/p>\n

REMEMBER-<\/strong> KSA has signed an MoU<\/a> with Hyundai for the construction of an electric vehicle and internal combustion engine manufacturing plant in Saudi Arabia. Hyundai is investing USD 2.45 bn<\/a> over 10 years in expanding its electric vehicle production in Tamil Nadu, India, and has announced plans<\/a> to equip its future vehicles with LFP batteries.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hyundai to buy 5% stake in world\u2019s largest zinc smelter: South Korea\u2019s giant automaker Hyundai Motor Group will buy a 5% stake \u2014 worth KRW 527.2 bn (USD 398 mn) \u2014 in Korea Zinc to ensure access to key metals used in making EV batteries, Bloomberg reported last week. The group also signed an agreement […]<\/p>\n","protected":false},"author":1,"featured_media":79350,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,107,11,64,454,197,299],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-critical-minerals","tag-enterpriseclimate","tag-evs","tag-hyundai","tag-minerals","tag-south-korea","wpautop","entry"],"acf":{"mongo_id":"98323624-c8c6-42e5-9a4b-08b5200ecec4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/268.jpg","photo_position":"above","related_issue":[79329],"teaser":"","voice_url":""},"yoast_head":"\nHyundai plans to acquire 5% stake in Korea Zinc as it expands EV battery supply chain - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/09\/04\/hyundai-plans-to-acquire-5-stake-in-korea-zinc-as-it-expands-ev-battery-supply-chain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyundai plans to acquire 5% stake in Korea Zinc as it expands EV battery supply chain\" \/>\n<meta property=\"og:description\" content=\"Hyundai to buy 5% stake in world\u2019s largest zinc smelter: South Korea\u2019s giant automaker Hyundai Motor Group will buy a 5% stake \u2014 worth KRW 527.2 bn (USD 398 mn) \u2014 in Korea Zinc to ensure access to key metals used in making EV batteries, Bloomberg reported last week. 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