Advancements and Competition in the EV and Battery Market

Hyundai is actively engaging in competition with BYD, China’s dominant EV manufacturer, by investing $28 million in a new EV assembly and battery plant in Thailand, establishing a significant footprint in the growing "Detroit of Asia." This strategic move aims to enhance Hyundai’s market share in the region Meanwhile, both CATL and BYD continue to lead as the world's top battery manufacturers, with CATL holding 37.8% and BYD 15.8% of the market share in the first half of the year The global battery consumption for electric vehicles saw a 22.3% increase during this period, according to the latest data from SNE Research..