April 08, 2024 / 11:08 AM IST
Sensex Today | Hyundai, Kia join hands with Exide Energy Solutions for EV battery localisation in India
South Korean auto majors Hyundai Motor Company and Kia Corporation on Monday announced a partnership with homegrown battery maker Exide Energy Solutions Ltd for electric vehicle battery localisation in India.
Hyundai Motor Company and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd, a leading Indian battery company, as part of their electric vehicle (EV) expansion plans, Hyundai Motor Group said in a statement.
Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells in line with the expansion of their EV plans for the Indian market, it added. Read More
