Next Issue June
Next Issue June

Do you want to advertise here? Contact us

Hyundai and Kia Exide Energy collaborate on EV battery localisation in India
.

Hyundai and Kia Exide Energy collaborate on EV battery localisation in India

April 8, 2024 3:47 pm

Hyundai Motor and Kia have partnered with Exide Energy to localise EV battery manufacturing in India, with an emphasis on lithium-iron-phosphate (LFP) cells. This is a strategic step to grow their exclusive battery development, manufacture, supply, and alliances in the Indian market.

Hyundai Motor and Kia Corporation (Kia) executed a Memorandum of Understanding (MOU) for strategic collaboration with Exide Energy Solutions Ltd. (Exide Energy), a major Indian battery manufacturer, as part of their electric vehicle (EV) expansion plans.

Hyundai Motor and Kia intend to localise EV battery manufacture, with a focus on lithium-iron-phosphate (LFP) cells, as their electric vehicle plans for India expand. This strategic decision will position them as pioneers in using domestically produced batteries in upcoming EV models in India.

“India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localised battery production crucial,” said Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division. “Through this global partnership with Exide Energy Solutions Ltd., we will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”

Kolkata-based Exide Industries Ltd., India’s premier lead-acid battery provider, has over 75 years of experience and leads the industry in lead-acid batteries. Exide Energy Solutions Ltd. is a wholly owned subsidiary of Exide Industries Ltd., founded in 2022 to manufacture Lithium-Ion cells, modules, and packs in a variety of chemistries and form factors.

This strategic collaboration with Exide Energy represents the start of Hyundai Motor and Kia’s attempts to grow their exclusive battery development, manufacture, supply, and alliances in the Indian marketplace.

India is widely regarded as a highly promising automotive market, and the country is quickly developing as a key participant in the manufacturing and marketing of EVs. Recognizing the strategic importance of the Indian market, Hyundai Motor and Kia are taking the lead by releasing EV cars to establish themselves as the industry leaders.

The signing ceremony took held at Hyundai Motor Group’s Namyang Research and Development Center in South Korea, and was attended by Heui Won Yang, Chang Hwan Kim, Duk Gyo Jeong, and Mandar V Deo, Exide Energy’s Managing Director and CEO.

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Webinar
Webinar

Do you want to advertise here? Contact us

OEM Update QR Code
OEM Update QR Code

Events

Metal Forming Expo
Metal Forming Expo
amtex
amtex
Fastener Fair India
Fastener Fair India
Himtex 2024
Himtex 2024
Pharma India Expo
Pharma India Expo
World of Photonics India
World of Photonics India
IFFE Expo
IFFE Expo
India Essen Welding and Cutting Expo
India Essen Welding and Cutting Expo

eMagazine May 2024

eMagazine May 2024
eMagazine May 2024

Do you want to advertise here? Contact us

Our Sponsors

Carl Zeiss India
Carl Zeiss India
STMCNC
STMPC
B&R Automation
BR Automation
Pragati Gears
Pragati Gears
Messer Cutting
Messer Cutting
Fuji Electric India
Fuji Electric India
Bibus India
Bibus India
DMG Mori India
DMG Mori India
PMT Machines Ltd
PMT Machines Ltd
Igus India Pvt Ltd
Igus India Pvt Ltd
Vega India Level Ltd
Vega India Level Ltd
Dosatron
Dosatron
Fagor Automation
Fagor Automation
Super Slides
Super Slides
Quality Spares Center
Quality Spares Center
Widma
Widma
Autonics
Autonics
ACE Micromatic Group
ACE Micromatic Group
IMTMA- DMTX
IMTMA- DMTX
Chicago Pneumatic Tools
Chicago Pneumatic Tools
Fenwick and Ravi
Fenwick and Ravi
MMC Hardmetal Pvt Ltd
MMC Hardmetal Pvt Ltd
Mennekes
Mennekes
Fietest
httpswww.fietest.com