BEIJING, December 5 (TMTPOST) —— Hyundai Motor Group will probably start using CTP technology batteries produced by China’s largest battery maker Contemporary Amperex Technology Co., Limited (CATL) in Hyundai's new electric vehicles as early as next year, according to insiders of the automotive industry.
The first model to use CTP technology batteries is likely to be Kia's Ray EV. The CTP battery used by Hyundai Motor Group is not the existing lithium iron phosphate battery, but a ternary lithium battery, the latest type of battery that CATL is proud of. CATL proved its technical capabilities by launching the third generation of CTP battery called Kirin in June this year.
CTP technology allows the battery cell to be placed directly into the battery pack without a module. Sources said that this technology will first be used in new light electric vehicle models such as the Kia Ray.
It is reported that CATL's CTP technology has been upgraded to the third generation, with volume utilization of up to 72% and energy density of up to 255Wh/kg, which can achieve a range of more than 1,000 km for the whole vehicle.
This is not the first time for Hyundai Motor Group to install CATL batteries in its models. Kia proved the safety of the CATL batteries installed in its Niro EV models that were exported to the U.S. The industry insiders estimate that the price of CATL batteries has a significant advantage due to cost reduction. However, Hyundai Motor Group adopted CATL CTP technology batteries not to reduce costs, but to diversify battery suppliers and meet the growing demand for electric vehicles.
Hyundai Motor's parts manufacturing subsidiary Hyundai Mobis and CATL signed a technology licensing and cooperation agreement in 2021. According to the agreement, CATL will license the CTP technology to Mobis and support Mobis' supply of CTP-related battery products in South Korea and other countries in the world.