The signing ceremony passed off at HMC’s Namyang R&D Centre in South Korea, which was attended by senior officers from Hyundai Motor, Kia Corporation and Exide Energy.
| Photo Credit: Special Arrangement
Hyundai Motor Co. and Kia Corporation introduced that they’ve entered into a pact with Exide Energy Solutions Ltd. for localisation of electrical automobile batteries in India.
The partnership with Exide Energy permits Hyundai Motor and Kia to equip future EVs in the Indian market with locally-produced lithium-iron-phosphate (LFP) cells, mentioned the Korean carmaker in a press release.
Exide Energy Solutions Ltd. is an entirely owned subsidiary of Exide Industries Ltd., which was established in 2022 to foray into the enterprise of producing of Lithium-Ion cells, modules and packs incorporating a portfolio of a number of chemistries and type components.
This strategic cooperation with Exide Energy marks the start of Hyundai Motor and Kia’s efforts to broaden its unique battery improvement, manufacturing, provide and partnerships in the Indian market.
India is acknowledged as a extremely promising automotive market worldwide and the nation is quickly rising as a crucial participant in the manufacturing and gross sales of EVs. Realizing the strategic significance of the Indian market, Hyundai Motor and Kia are taking the lead in the Indian market by introducing its EV fashions to determine itself because the frontrunner in the Indian automotive trade, HMC mentioned.
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