Austrian Hammerer Aluminium Industries & Korean LS Cable & System have agreed to invest a combined USD 53 million in the creation of a joint venture that will begin producing battery cases and other EV components made of lightweight, high-strength aluminium in 2025.Both businesses intend to enter the market for aluminium vehicle components by utilising the respective knowledge they have each gained in Europe and Korea. In 2027, LS C&S anticipates that the joint venture will produce revenues of about 200 billion won. For the manufacture of Hyundai Motor and Kia automobiles with internal combustion engines, the LS Group subsidiary has provided high-strength aluminium components. The business intends to concentrate more on making components for EVs in light of the foundation of the joint venture.HAI is recognised as the industry leader in aluminium EV parts. It has provided its goods to Daimler and BMW through its operations in four European nations, including Austria and Germany. The CEO of the Austrian company, Rob van Gils, stated that his business selected LS C&S to acquire the cutting-edge technology required to supply EV components.
Austrian Hammerer Aluminium Industries & Korean LS Cable & System have agreed to invest a combined USD 53 million in the creation of a joint venture that will begin producing battery cases and other EV components made of lightweight, high-strength aluminium in 2025.Both businesses intend to enter the market for aluminium vehicle components by utilising the respective knowledge they have each gained in Europe and Korea. In 2027, LS C&S anticipates that the joint venture will produce revenues of about 200 billion won. For the manufacture of Hyundai Motor and Kia automobiles with internal combustion engines, the LS Group subsidiary has provided high-strength aluminium components. The business intends to concentrate more on making components for EVs in light of the foundation of the joint venture.HAI is recognised as the industry leader in aluminium EV parts. It has provided its goods to Daimler and BMW through its operations in four European nations, including Austria and Germany. The CEO of the Austrian company, Rob van Gils, stated that his business selected LS C&S to acquire the cutting-edge technology required to supply EV components.
