Tramway News: According to foreign media reports, CATL has set up a branch in South Korea to provide support for the supply of power batteries to Hyundai Motors. An insider close to the Ningde era revealed to reporters that “the situation is true, and ternary and lithium iron phosphate batteries are all being supplied.”
The establishment of a branch in South Korea is the fifth overseas branch established by CATL after Japan, Germany, the United States and France.
People familiar with the matter revealed that the branch established by CATL in South Korea had a manager and two employees at the beginning of its establishment. With the development of the business, the number of employees in the South Korean branch of CATL is expected to increase. People familiar with the matter also revealed that the office of the South Korean branch of CATL is located in the Gangnam District of Seoul.
There are many battery suppliers in South Korea. LG New Energy, which is spin-off from LG Chem’s battery business, is an important global supplier of electric vehicle batteries. They are already supplying GM, Tesla, Hyundai and other manufacturers. There are SK On and Samsung SDI.
As an important global supplier of electric vehicle batteries, CATL has also received orders from Hyundai Motors. In February this year, South Korean media stated in reports that after obtaining Hyundai Motor's second batch of battery orders, CATL was selected by Hyundai Motor as the third batch of battery suppliers.
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