Shortcut to Body Shortcut to main menu

Invest Korea

※ Click the button below to use Customized Information Search services.
Quick Link to Customized Information Search services

IK News

  • Home
  • About us
  • Notice·Promotion
  • IK News
To gain a foothold in the EU battery market emerging as a new growth driver

-KOTRA to host 2021 Korea-Europe Battery Day with a German based P3 Group
-EU, a new battle ground for commercial EV batteries

Korea Trade –Investment Promotion Agency (KOTRA: CEO and President, Kwon Pyung-oh) is hosting a ‘2021 Korea-Europe Battery Day’ to help Korean automotive businesses gain bigger presence in the EV battery markets set for explosive growth in Europe. The show, which started on Apr 20 and comes to an end on May 7, consists of a series of interactive live-streaming web-based virtual seminars and one-on-one business counseling sessions to share views on the industry trends and the future technologies.

The EU, rising as one of the most promising green car markets in the midst of a global paradigm shift that drive towards environmental sustainability, has unveiled its ambitious plan to invest as much as EUR 6 billion in IPCEI (Important Projects of Common European Interest) on batteries and to become the world’s EV battery powerhouse, producing more than 30 percent of rechargeable batteries consumed worldwide by the end of the year 2030.

The webinar, featuring nearly 450 guests at home and abroad, including the world’s renowned German automaker BMW and AUDI, was held for two days from Apr 20, under the theme of the latest trends and outlook of the materials/ equipment development, as well as tips for localization strategy: what to take into consideration by German based P3 Group.

At the two-week one-on-one remote business meeting session starting from Apr 26, 40 Korean small and mid-sized companies developing technologies of materials, parts and equipment mounted on EV batteries and 40 foreign guests such as a Croatian car manufacturer, Rimac Automobili and Siemens AG, a global tech giant headquartered in Germany are reported to take part in the show.

“We’re highly interested in partnering with tech-companies in Korea showing enormous growth potential.”, said BMW. A Korean lithium-ion battery electrolytes producer, A, said “The venue is believed to unlock great opportunities, allowing the attendees to meet with companies taking the lead in the global markets, particularly in the EU, representing a steep growth recently, and to build business networks.”

KOTRA, the event host, said “Some of business leaders like Volkswagen in Germany or the UK’s Britishvolt have already launched dozens of projects, financing billions of dollars to build out battery production plants.”, adding that “The investment agency is planning to take aggressive approach to helping businesses in Korea gain a foothold in the EU market and attract investments before the industry starts to reshape the value chain dynamics.”

* IPCEI (Important Projects of Common European Interest) : IPCEI refers to a package of large-scale, cross border business projects for shared benefits of all member countries in the EU, which ultimately aims to gradually improve self-sufficient supply chain, curtailing reliance on overseas manufacturing. * P3 Group: P3 Group GmbH is a management and engineering consultancy headquartered in Germany, providing services of technology development, product testing and customized marketing strategy counseling, largely targeting German finished car producers or auto parts manufacturers. (Annual sales: EUR 3.5 bln, No. of employees: approx. 1,000)

Source : KOTRA (2021.04.20)

Meta information