Hyundai assembles task force to build its own EV batteries — report

It appears that Hyundai Motor Group $HYMTF ( ▲ 0.95% ) has been secretly cooking up a major play in its EV strategy in a move reminiscent of something akin to a James Bond flick. 

The details: According to a report by The Chosun Daily, the automaker is making a series of moves to develop and manufacture its own electric vehicle battery cells amid concerns that the global EV market is too competitive to rely on other battery suppliers. 

• The effort is reportedly being led by a team assembled by Hyundai on April 7 known as the “B Task Force (TFT)” (sounds Bond-like, right?) under the company’s manufacturing division.

• Members of the in-house battery team include Senior Vice President Kim Chang-hwan, who oversees EV energy solutions; Choi Jae-hoon, head of battery development, Lee Woo-sung (electrification energy solutions), Seo Jung-hoon (battery design), and Kim Dong-geon (battery cell development).

• The B Task Force is being led by Hyundai’s executive VP Jung Jun-cheul, head of manufacturing.

Hyundai was reportedly prompted to launch the in-house battery strategy after the Chinese EV maker, BYD, unveiled its battery capable of delivering over 400 kilometers (248 miles) of range with a five-minute charge. 

Between the lines: The report of Hyundai launching a new in-house team to develop and manufacture its own batteries adds to a series of major moves by the automaker that could give the company a major edge in the U.S. market, especially with the 25% auto tariffs in place.

• Hyundai's new Georgia Metaplant—which spans over 16 million square feet in size—is tied to two battery joint ventures, including a 50/50 deal with LG Energy Solution to develop and manufacture batteries.

• In late March, the automaker announced a $21 billion investment in U.S. production, which will include a new steel plant in Louisiana that will produce “next-generation” steel that will be used by Hyundai’s U.S. facilities to build EVs.  

Bottom line: Even with record EV sales (most notably with its Kia brand), Hyundai is still working to garner more share of the electric vehicle market. The company’s new in-house battery team could be the move of all moves, making Hyundai the one to watch in the electric vehicle sector, especially in the U.S. market.  

CDG News reached out to Hyundai about the report—but did not receive a response by press time.

Outsmart the Car Market in 5 Minutes a Week

No-BS insights, built for car dealers. Free, fast, and trusted by 95,000+ auto pros.

Subscribe now — it’s free. 

Tailored Customer Experiences at Every Touchpoint? There’s AI for That. 

Impel’s AI Operating System maximizes engagement and conversion across marketing, chat, sales, and service. Now dealers can deliver one-to-one concierge experiences at scale across every step of the consumer journey, driving new levels of revenue, customer retention, and profitability.

And with our new AI Knowledge Bank, you can customize your AI for maximum flexibility. From incentives and service policies to tariff responses, train Impel once, and every conversation immediately reflects your latest updates. The result? 

• As much as a 50% increase in appointment set rates 

• Up to a 26% reduction in human intervention 

• 95 incremental Repair Orders on average per month

• An increased repurchase rate of nearly 25% 

See the difference the Impel AI Operating System makes today. Visit impel.ai/cdg.