Purchased 'Recalled' Kona battery for 16 billion KRW
Securing the scale of 26,699 units in domestic supply
Replacing rare earth imports, fostering strategic business
Forecast of impact on initial ma
GS E&C will secure 26,699 Kona EV batteries recalled by Hyundai Motor Company and enter the battery recycling (recycling) market in earnest. They will strategically foster a recycling business that extracts various rare earth metals that have been dependent on imports.
This deal is expected to have a significant impact in the domestic battery recycling marketto its many standards such as prices.
According to the electric vehicle industry on the 30th, Hyundai Motor sold 26,699 domestic batteries to GS E&C out of the 82,000 Kona Electric units recalled in February.
Kona Electric vehicle has a battery with a capacity of 64 kWh. The transaction price for both sides is about 600,000 KRW per vehicle, for a total of 16 billion KRW. This is the first time that a price for a large quantity has been confirmed among domestic recycled battery transactions.
The price of this dealwasabout 5% compared to the price of a new battery. In addition to GS E&C, Hyundai Motor sold about 30,000 units in Europe to SungEel HiTech.
The total capacity of the Kona battery secured by GS E&C is about 1.7GWh, which can be used by about 800 households (based on four people) for one month.
According to the terms of the contract, Hyundai Motor Company, GS E&C, and SungEel Hitech do not use them...
Read Full Story: https://english.etnews.com/20210831200002
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