Hyundai Motor Group and SK Innovation will collaborate to foster the electric vehicle (EV) battery ecosystem, the pair said on Tuesday.
The companies will collaborate to foster EV battery sales, lease and rentals, battery management services as well as battery reuse and recycling sectors.
They will work to verify the collaboration between mobility and battery, they said.
Hyundai and SK said they wanted to add high added value and stregthen environmental awareness in battery life cycles.
They wanted to foster a healthy production cycling in Battery as a Service.
The collaboration will aim to reduce carbon emission, stabilize materials supply and find the best optimized design for EV that will help in recycling batteries.
The companies were collecting battery packs used in Kia Motors’ Niro EV in their collaborative tests.
They will also consider reusing used EV batteries in energy storage systems. They will also find ways to extract lithium, nickel and cobalt in used batteries that retain their economic value.