Hyundai Motor and Kia collaboration with Exide

Hyundai Motor and Kia have embarked on a strategic collaboration with Exide Energy to localize electric vehicle battery production in India, marking a significant milestone in their endeavors toward sustainable mobility

Hyundai Motor Company and Kia Corporation have solidified a strategic partnership with Exide Energy Solutions Ltd. for the localization of electric vehicle (EV) batteries in India, marking a significant milestone in their expansion plans within the Indian EV market.

The signing ceremony of the Memorandum of Understanding (MOU) took place at Hyundai Motor Group’s Namyang Research and Development Center in South Korea.
Among the notable individuals in attendance were Heui Won Yang, serving as President and Head of Hyundai Motor and Kia’s R&D Division, Chang Hwan Kim, who holds the position of Head of Electrification Energy Solutions Tech Unit, Duk Gyo Jeong, overseeing the Electric Vehicle Parts Purchasing Sub-Division, and Dr. Mandar V Deo, who serves as the Managing Director and CEO of Exide Energy.

Hyundai Motor and Kia intend to localize EV battery production for the Indian market, with a specific focus on lithium-iron-phosphate (LFP) cells. This strategic move positions them as pioneers in utilizing locally manufactured batteries in their forthcoming EV models tailored for the Indian market.

Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division, emphasized the importance of India’s vehicle electrification market, highlighting the government’s carbon neutrality goals. He stressed the significance of achieving cost competitiveness through localized battery production, citing it as a key factor in gaining a competitive advantage.

With its headquarters in Kolkata, Exide Industries Ltd. boasts an impressive legacy spanning more than 75 years, establishing itself as a prominent leader in the realm of lead-acid batteries within the market. Exide Energy Solutions Ltd., a wholly-owned subsidiary of Exide Industries Ltd., was established in 2022 to venture into the manufacturing of Lithium-Ion cells, modules, and packs, offering various chemistries and form factors.

This strategic collaboration marks the beginning of Hyundai Motor and Kia’s efforts to expand their exclusive battery development, production, supply, and partnerships in the Indian market. Recognizing India’s prominence in the global automotive industry and its rapid emergence as a critical player in EV production and sales, Hyundai Motor and Kia are strategically positioning themselves to lead the Indian automotive market by introducing EV models, and establishing themselves as frontrunners.