Hyundai Motor and Kia partner with Exide Energy for EV battery localization

  • Articles
  • Apr 12,24
Partnership with Exide Energy enables Hyundai Motor and Kia to equip future electric vehicles in the Indian market with locally produced lithium iron phosphate (LFP) batteries
Hyundai Motor and Kia partner with Exide Energy for EV battery localization

Hyundai Motor Company and Kia Corporation have signed a memorandum of understanding (MOU) for strategic cooperation with Exide Energy Solutions Ltd, a leading Indian battery company, as part of their electric vehicle (EV) expansion plans. 

The signing ceremony took place at Hyundai Motor Group’s Namyang Research and Development Center in South Korea, attended by Heui Won Yang (President and Head of Hyundai Motor and Kia’s R&D Division), Chang Hwan Kim (Head of Electrification Energy Solutions Tech Unit), Duk Gyo Jeong (Head of Electric Vehicle Parts Purchasing Sub-Division) and Dr Mandar V Deo (Managing Director, and CEO of Exide Energy).

With the expansion of their EV plans for the Indian market, Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells. This strategic move will position them as the pioneers in applying domestically produced batteries in their upcoming EV models in the Indian market.

Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division, elaborated, “India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localized battery production crucial. 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, a leading lead-acid battery supplier in India, has over 75 years of experience and market leadership in lead-acid batteries. Exide Energy Solutions Ltd is a wholly owned subsidiary company of Exide Industries Ltd, which was established in 2022 to foray into the business of manufacturing of lithium-ion cells, modules and packs incorporating a portfolio of multiple chemistries and form factors. 

This strategic cooperation with Exide Energy marks the beginning of Hyundai Motor and Kia’s efforts to expand its exclusive battery development, production, supply and partnerships in the Indian market.

India is recognised as a highly promising automotive market worldwide and the country is rapidly emerging as a critical player in the production and sales of EVs. Realising the strategic importance of the Indian market, Hyundai Motor and Kia are taking the lead in the Indian market by introducing its EV models to establish itself as the frontrunner in the Indian automotive industry.

Related Stories

Smart Manufacturing
Israel based EVR Motors to setup manufacturing unit in India

Israel based EVR Motors to setup manufacturing unit in India

The company has already secured commercial agreements with prominent Indian automotive firms.

Read more
Policy Regulation
India to become landfill for Chinese products amid US Beijing tariff war; GTRI

India to become landfill for Chinese products amid US Beijing tariff war; GTRI

These tariffs include a 100% duty on electric vehicles, a 50% duty on semiconductors, and a 25% duty each on electric vehicle batteries originating from China.

Read more
Smart Manufacturing
Zen Mobility unveils game-changing manufacturing hub for Zen Micro Pods

Zen Mobility unveils game-changing manufacturing hub for Zen Micro Pods

Zen Mobility unveiled a production facility for their flagship electric cars, the Zen Micro Pods, designed for city commuters.

Read more

Related Products

Tata Motors unveils facilities for development of Hydrogen propulsion tech

AUTO COMPONENTS & ACCESSORIES

Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more

Request a Quote

Tata Motors plans petrol powertrain for Harrier and Safari SUVs

AUTO COMPONENTS & ACCESSORIES

Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more

Request a Quote

Electric Vehicle Charger

AUTO COMPONENTS & ACCESSORIES

RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back