South Korean public and private institutions are joining forces to develop high-capacity rechargeable batteries to power electric vehicles, according to local reports.
The country's Ministry of Trade Industry and Energy told local reporters on Wednesday that it has launched a KRW43bn (US$38m) research programme with key private sector companies.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The medium-term aim of the programme is to double the energy density of rechargeable batteries to 300 watt-hours by 2020 and to provide electric vehicles with a range of 400km (250 miles) on a single charge.
Among the 27 private companies involved in the project are Hyundai Motor and L Chem. Currently Hyundai's new Ioniq has the longest range among electric vehicles made in South Korea, of 191km.
The government said it would be proactive in developing demand for the advanced battery technology. Its direct involvement highlights the growing importance of this segment of the car industry which is expected to become a key battleground for vehicle manufacturers globally over the next 10 years.
Key areas of research will be to increase the nickel content in anodes; develop advanced anode materials using silicon and carbon; increase the durability of electrolyte at high voltage; and cut weight and volume by reducing the thickness of cell membrane.
