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Renault Korea Motors is facing uncertainties about its plan to manufacture 200,000 electric vehicles (EVs) in Busan annually, as battery makers here remain reluctant to increase their domestic production, according to industry officials, Monday. During Renault Group Senior Vice President Francois Provost s recent closed-door meeting in Korea with Prime Minister Han Duck-soo, the French firm s executive is said to have complained about difficulties securing enough EV batteries here.
Ford is on track to receive the largest award under the US Department of Energy s loan programme since President Joe Biden took office. The up to USD 9.2bn federal loan will fund the construction of enormous battery plants in Tennessee and Kentucky for Ford s incoming electric vehicle range. The project is in a joint venture with SK On, a South Korean battery manufacturer.
To meet demand for clean energy in the next generation, hydrogen energy has been regarded as a key market for new energy development by various countries, and Taiwan makers, including CHEM New Energy, Kaori Heat Treatment and AcBel Polytech, have cut into the international supply chain for fuel cells and other related components, according to industry sources.
South Korea s top-3 battery makers SK On, LG Energy Solution (LGES), and Samsung SDI are all on track to build additional domestic production capacities, in order to reduce the country s reliance on Europe, the US, and China for power battery supply and help expand its EV market, according to reports from Korea news media.