CATL supplied EV batteries to Kia in South Korea – Report

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Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL) has supplied electric vehicle (EV) batteries to Kia Corp in South Korea.

Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL) has supplied electric vehicle (EV) batteries to South Korean Kia Corp, the companies announced on Thursday, marking Kia’s first use of non-Korean EV batteries for home sales.

The South Korean automaker, a subsidiary of Hyundai Motor Co, has chosen CATL’s batteries for its Niro electric crossover SUV, in a bid to expand its range of battery suppliers, a South Korean newspaper reported on Wednesday.

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“As sales of its battery electric vehicles grow globally, Kia is cooperating with various battery suppliers to diversify and stabilize battery supply,” Kia said in a statement to Reuters, confirming the use of CATL batteries.

A CATL spokesperson also confirmed the report, without giving further details.

CATL, whose customers include Tesla Inc and Volkswagen AG, is the world’s largest battery maker.

Industry tracker SNE Research says the company has a share of more than 35% of the booming global electric vehicle battery market. Analysts say the market is worth tens of billions of dollars a year.

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For domestic electric vehicle sales, Hyundai Motor and Kia previously only used batteries from two South Korean companies – LG Energy Solution Ltd and SK On from SK Innovation Co Ltd.

According to SNE Research, these battery manufacturers and their national counterpart Samsung SDI Co Ltd together control more than a quarter of the global electric vehicle battery market.

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