Following the European Union, South Korea has banned the supply of lithium-ion batteries to Russia as part of the expansion of sanctions. The restrictions apply to all rechargeable batteries, including batteries for electric vehicles.
China has become the main supplier of lithium-ion batteries to the Russian Federation. Last year, the country sent batteries totaling $315.2 million. South Korea supplies many times less: in 2023, batteries worth $18.4 million entered the Russian market, and their components - $8.6 million.
Who might be affected by the South Korean ban
The ban may be sensitive for Ranera, which receives lithium-ion batteries from South Korean Enertech (98.3% of shares belong to Ranera). Now the owner imports cells and modules from South Korea for further assembly in Russia. At the same time, the finished product has the status of \"made in Russia.\"
Ranera will build a gigafactory in the Kaliningrad region in 2025 with a production volume of 50 thousand batteries per year. The company has assembly sites at the Moscow Polymetal Plant and in Technopolis Moscow. Ranera has also begun construction of a gigafactory in the Troitsky Administrative District.
Where will the batteries go
Under the contract, Ranera is obliged to supply Mosgortrans with over 155 thousand batteries for electric buses and Moskvich electric vehicles. In addition, the company bought a stake in Kama JSC, whose specialists are developing Atom electric vehicles.
In May 2023, the Ranera press service announced that together with Kama it would create a lithium-ion battery. The manufacturer guaranteed high performance characteristics of the battery, including a range of 500 km.
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