[Asia Economy Reporter Kim Hyewon] LS Cable & System announced on the 22nd that it will exclusively supply enamel wire for drive motors to Hyundai Motor and Kia's electric vehicles, Ioniq 5 and EV6.
LS Cable & System is the first in Korea to mass-produce enamel wire that can be used at 800V voltage. Related sales are estimated to exceed 200 billion KRW over the next six years.
Enamel wire is copper wire coated with an insulating material, wound in a coil shape around the drive motor to convert electrical energy into mechanical energy. LS Cable & System succeeded in developing high-voltage enamel wire using high-performance insulating materials to improve efficiency.
As the competition for charging speed intensifies in the electric vehicle industry, the development of high-voltage components supporting this is becoming increasingly important. A company official said, "We expect this supply to be an opportunity to secure a leading position in the high-voltage electric vehicle wire market, which is in the early stages of commercialization."
Employees at LS Cable & System's Gumi plant in Gyeongbuk are celebrating the first shipment of coils for Hyundai Motor's Ioniq 5.
LS Cable & System expects the global eco-friendly vehicle enamel wire market to grow more than sixfold by 2025 compared to the current size, and is strengthening marketing to global automakers and expanding investments.
Myung Nohyun, CEO of LS Cable & System, emphasized, "The drive motor and battery are so important that they are called the two hearts of an electric vehicle," adding, "We also believe that the wire and component business, which serve as the blood vessels of these hearts, will grow rapidly, and we are nurturing it as a new growth engine."
Since 2016, LS Cable & System has been supplying enamel wire (400V class) for drive motors to the Chevrolet Bolt EV of the US automaker GM, and is currently in discussions regarding the development of high-voltage enamel wire for EVs.
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