NEW DELHI: Hyundai Motor and group firm Kia Corporation on Monday announced a partnership with Exide Energy for electric vehicle battery localisation in India.
Hyundai Motor and Kia Corporation have signed a Memorandum of Understanding with Exide Energy Solutions as part of their electric vehicle expansion plans, Hyundai Motor said in a statement. Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate cells in line with expansion of EV plans for Indian market, it added.
“This strategic move will position them as pioneers in applying domestically produced batteries in their upcoming EV models in Indian market,” it said.
Hyundai Motor and Kia Corporation have signed a Memorandum of Understanding with Exide Energy Solutions as part of their electric vehicle expansion plans, Hyundai Motor said in a statement. Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate cells in line with expansion of EV plans for Indian market, it added.
“This strategic move will position them as pioneers in applying domestically produced batteries in their upcoming EV models in Indian market,” it said.