Hyundai Motor and Kia partner with Exide Energy for EV battery localisation in India

Hyundai Motor Company and Kia Corporation have solidified their commitment to electric vehicle (EV) expansion plans in India through a strategic partnership with Exide Energy Solutions Ltd. This partnership is expected to mark a significant step towards localising EV battery production, emphasising the companies' dedication to India's burgeoning EV market.

Signing ceremony

The memorandum of understanding (MOU) was signed at Hyundai Motor Group’s Namyang Research and Development Center in South Korea. Key figures present included Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division, and  Mandar V Deo, Managing Director and CEO of Exide Energy.

Localisation Strategy

Hyundai Motor and Kia aim to localise EV battery production, with a specific focus on lithium-iron-phosphate (LFP) cells. This strategy integrates domestically produced batteries into their future EV models for the Indian market.

Statement from Hyundai Motor and Kia

Heui Won Yang emphasised India's significance in vehicle electrification, citing the government's carbon neutrality goals. He stressed the importance of securing cost competitiveness through localised battery production and expressed confidence in the partnership with Exide Energy Solutions Ltd.

About Exide Energy

Exide Energy Solutions Ltd., a subsidiary of Exide Industries Ltd., brings over 75 years of experience in the battery industry. Established in 2022, the company specialises in manufacturing Lithium-Ion cells, modules, and packs, offering a diverse portfolio of chemistries and form factors.