Hyundai Motor Group and Exide Energy Partner for Battery Cells in Indian EV Model

Hyundai Motor and Kia have joined hands with Exide Energy to localise EV battery production, focusing on lithium-iron-phosphate cells in India. The strategic partnership aims to expand exclusive battery development, production, supply and partnership in the Indian market.

Heui Won Yang, President of Hyundai Motor and Kia’s R&D Division, expressed, “Through this global partnership with Exide Energy, we will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”

Exide Energy, established in 2022, is set to start mass production of Hyundai and Kia EV battery cells by the end of 2024. With India’s push towards EV-related policies and incentives for local production, the partnership aims to secure price competitiveness in a cost-sensitive market.

India’s goal to achieve carbon neutrality has made securing localised battery production crucial for the automotive industry. Hyundai Motor Group’s collaboration with Exide Energy aligns with the government’s target to increase EV sales to 30 percent of total automobile sales by 2030, paving the way for sustainable transportation solutions.