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Central Government/Public Sector | Not Classified - Usa | PID: 195742
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Hyundai Motor Company will invest USD 100 million (KRW 113.6 billion) in Solid Energy System Corporation, the developer of lithium metal batteries
Hyundai Motor Company recently signed an equity investment agreement with this company
Solid Energy, established as a start-up of the Massachusetts Institute of Technology (MIT) in 2021, developed a prototype lithium metal battery, a next-generation battery that made up for shortcomings of the existing lithium batteries
Based on this technology, it signed a joint research contract with General Motors in March 2021
Solid Energy and General Motors are planning to construct a lithium metal battery test production plant near Boston by 2023, and will commercialise it in 2025
Hyundai Motor Company is expected to strengthen its 'battery internalization' strategy through investment. It also aims to mass-produce the next-gen solid-state battery by 2027. It has strengthened its research team to develop next-generation batteries in R & D headquarters and is focusing on the solid-state battery development
| Updated on: 07 - Jul - 2021
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