Written by Cláudio Afonso | [email protected] | LinkedIn | X
On Monday, Hyundai and Kia inked a memorandum of understanding with Exide Energy Solutions Ltd to provide batteries for their electric vehicles in India.
The South Korean automakers highlighted that the collaboration with Exide Energy is geared towards localizing EV battery production in India, the world’s third largest automotive market.
Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division said that the brands “will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”
Teaming up with Exide Energy signals Hyundai and Kia’s commencement of efforts to expand their proprietary battery development, production, supply, and partnerships in the Indian market.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
