SEOUL : The South Korean government and its top battery companies plan to jointly invest 20 trillion won through 2030 to develop advanced battery technologies including solid-state batteries, the industry ministry said on Thursday.
The trio collectively control more than a quarter of the global EV battery market and supply major automakers including Tesla Inc, Volkswagen AG, General Motors Co and Ford Motor Co. EV battery makers are racing to develop new battery technologies that promise longer driving range, higher energy density and better safety than the conventional lithium-ion batteries.
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