Hyundai Motor and Kia Corporation have inked an MOU with Exide Energy Solutions Ltd., marking a strategic move in their electric vehicle (EV) expansion plans in India. The collaboration aims to localize EV battery production, focusing on lithium-iron-phosphate (LFP) cells. This endeavor aligns with India’s push for carbon neutrality and bolsters cost competitiveness. Heui Won Yang, President of Hyundai Motor and Kia’s R&D Division, highlighted the significance of localized battery production in achieving market advantage. The partnership signifies Hyundai and Kia’s commitment to expanding their battery development, production, and supply in India, positioning them as frontrunners in the Indian automotive industry.
Hyundai and Kia Partner with Exide Energy for EV Battery Production in India
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