The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1 billion) through 2030 to develop advanced battery technologies including solid-state batteries, the industry ministry said on Thursday.
“The joint investment will allow South Korea to start commercial production of solid state batteries ahead of others,” the ministry said in a statement.
South Korea is home to three of the world’s five biggest electric vehicle (EV) battery makers –LG Energy Solution Ltd (LGES), Samsung SDI Co Ltd and SK On.
