In talks with Volkswagen, Siemens, page-110

Hey Wilma,

Fierce price competition expected given scale of opportunity.
Appears Korean giants willing to take a hair-cut on price for chance of strategic European scale-up with Volkswagen.

Contrast that to smaller Korean company, SK Innovation (Mercedes battery supplier), who apparently baulked at aggressive price cuts demanded by VW for large volume contracts:

Orders from Volkswagen Give a Breakthrough to Korean Battery Makers
"However, there is concern that Volkswagen is mounting pressure to cut down on battery prices in return for placing big orders. In fact, a source said that SK Innovation did not participate in competing for the Volkswagen order by taking its profitability into consideration."

Margins probably secondary for giants digging deep, jostling for market leadership on global EV ramp-up. But how many plucky start-ups could wear that kind of economics?

Will potential of razor thin margins attract minnow funding?
Will a feasibility study on moving target costs per KwH prove unfeasible?

Meanwhile, Korean presence at scale on European soil continues apace:
LG Chem to triple EV battery production in Poland