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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
The battery pack is an electric vehicle's metaphorical heart and soul, even though the motor may be the source that really drives it.
High energy density lithium-ion batteries are less prone to lose their charge when not in use than other battery types.
With the support of aggressive government policies and local corporations that are making significant investments to ensure future raw material and component supplies, South Korea is moving quickly to establish itself as a leader in the global electric vehicle supply chain.
Along with GS Energy and GS Neotek, South Korean EV charger company AppleMango was purchased by LG Electronics. According to LG, the acquisition will enable it to develop "fully featured charging stations" and incorporate the current internal-developed charging management system.
A small, quick charger is one of the exclusive technologies and methods that AppleMango has created. In addition to its industry-leading charging technology, LG claims that by collaborating closely with GS Energy and GS Neotek, it will get access to the essential operational infrastructure.
Operating EV charging stations and related businesses is something that both GS companies have a lot of expertise with. In order to provide charging stations with a user-friendly interface and real-time control/management, LG also plans to include digital signage technology.
The company makes a point of mentioning its outdoor digital display that is IP-rated and has a durable, dust- and water-proof housing. At LG Digital Park in South Korea, LG claims it will set up an EV charger production line with the intention of offering customised charging options for homes, hotels, malls, and other public buildings.
The company's "ongoing activities in the area of vehicle components, including developing and providing EV batteries and adjacent goods, such as energy storage system (ESS) and energy management systems," would also benefit from the move, according to LG.
The South Korea EV Battery Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
During an international battery expo in Seoul, major South Korean battery manufacturers are displaying their most recent innovations and plans for future expansion.
Across 250 battery and battery part manufacturers as well as automobile firms from around the world took part in the three-day InterBattery event held at the Convention and Exhibition Center, including SK On Co., LG Energy Solution Ltd., and Samsung SDI Co.
A new electric vehicle (EV) battery facility will be built in China with the help of billions of dollars from the battery division of South Korea's SK Innovation Co Ltd. The fully owned battery division of SK Innovation, SK On, has battery manufacturing facilities in the United States, Hungary, China, and South Korea. Among its customers are Ford Motor Company, Volkswagen, and Hyundai Motor Company.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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