Author: Reuters

Australia will play a big role in South Korea's ambition to lead the electric vehicle batteries market and diversify from China for its battery metals needs, a top South Korean executive said on Wednesday. Ben Bosung Kim, the managing director for steel giant POSCO in Australia, said the company has already invested around A$5 billion ($3.4 billion) in the country, which covers traditional raw material such as iron ore and coal, and more recently lithium, nickel, graphite and other minerals needed to manufacture electric car batteries. "Australia and Korea are always complementary and interdependent in terms of Australia's mining and Korea's manufacturing," Ben told Reuters at the sidelines of the Australia-Korea Business Council (AKBC) conference in Sydney.

South Korean battery maker SK On has signed a pact with Hyundai Motor group for the supply of electric vehicle (EV) batteries in North America, the company said on Tuesday.

South Korean battery maker SK On has signed a pact with Hyundai Motor group for the supply of electric vehicle (EV) batteries in North America, the company said on Tuesday. SK On said the memorandum of understanding (MOU) lets the two companies cooperate in providing its batteries to the auto group's plants in the United States after 2025 for production of electric vehicles.

The bankruptcy of Stellantis' Jeep joint venture in China could spell trouble for other global automakers whose output has plunged over the last five years in the world's largest car market, as domestic players rapidly overtake.

South Korea's Hyundai Motor Co and LG Energy Solution Ltd (LGES) are considering building two joint venture battery plants in the United States, a local online news outlet reported on Monday. LGES declined to comment. Hyundai Motor was not immediately available for comment when contacted by Reuters.