Hyundai-Kia: The use of electric vehicles (EVs) is increasing in the country. Indian consumers are interested in buying EVs with two-wheelers and cars. Many car manufacturers are already designing EV cars with India in mind. In the coming days, the use of EVs will increase, and the companies are also acting accordingly.
Recently, South Korean automaker giant Hyundai Motor Company and Kia Corporation announced a partnership with Indian battery manufacturing giant Exide Energy. Hyundai Motor Group said in a statement that it has entered into a Memorandum of Understanding (MOU) with Exide Energy as part of its electric vehicle (EV) expansion plan.
These companies aim to produce EV batteries in India
put Specifically focused on lithium-iron-phosphate (LFP) batteries. With this move, the Hyundai-Kia companies said that they will be the pioneers in the Indian market by applying indigenously manufactured batteries to their upcoming EV vehicles. Heu Wan Yang, president and head of R&D at Hyundai Motor and Kia, said that India is a key market for the electrified vehicle sector in the coming days due to the Indian government’s carbon neutrality and domestic battery production can increase competitiveness and reduce costs.
Hyundai Motors India expects to launch a large number of its EV models in 2025. There are already electric cars from this company like Kona Electric and Ioniq 5. Kia, on the other hand, is selling its EV6 model. When it comes to Exide Energy, India has over 75 years of experience in manufacturing lead-acid batteries. Stepping into lithium-ion battery with latest partnership
