HD Hyundai Infracore to develop truck battery packs

It will supply battery pack prototypes to Tata Daewoo to enter the electric commercial vehicle market

HD Hyundai Infracore to develop truck battery packs
Hyung-Kyu Kim 1
2023-10-19 18:14:29 khk@hankyung.com
Batteries

South Korea's HD Hyundai Infracore Co. plans to enter the electric commercial vehicle market through the development of truck batteries.

The company announced on Thursday it will supply battery packs for trucks to Tata Daewoo Commercial Vehicle Company and strengthen mutual cooperation to expand the range of electric commercial vehicle models.

HD Hyundai Infracore will provide battery pack prototypes to Tata Daewoo in the first half of 2025. The battery cells are cylindrical products from LG Energy Solution, which HD Hyundai Infracore receives and assembles into modules and packs.

HD Hyundai Infracore plans to develop lightweight vehicle battery packs with high energy density based on its own technology. A company source explained that it offers the advantage of flexible design to match unit voltage and capacity. It has already installed its proprietary battery pack on a 1.7-ton electric excavator and aims to expand its eco-friendly powertrain lineup in the future.

According to the global market research firm MarketsandMarkets Research, the global electric commercial vehicle market is expected to grow from 529,400 units in 2021 to 2,155,100 units in 2030.

"We will expand the range of vehicles using battery packs and steadily broaden our supply to emerging countries and beyond," HD Hyundai Infracore CEO Oh Seung-hyun.

Write to Hyung-Kyu Kim at khk@hankyung.com
#HD Hyundai Infracore #truck batteries #Tata Daewoo Commercial Vehicle #LG Energy Solution #battery modules #MarketsandMarkets

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