Hyundai is preparing to accelerate its electric vehicle (EV) expansion by relying on new battery technology that promises higher output, faster charging and lower costs. The South Korean automaker wants electrified vehicles to account for 60% of its global sales by 2030, a major increase from the 23% recorded last year.
For firms like QuantumScape Corp. (NYSE: QS) that specialize in making batteries, the success that Hyundai hopes to attain when it transitions to new in-house-built batteries highlights how much more room there is to improve battery technology in order to…
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