Hyundai partners with Exide for locally produced EV batteries
The collaboration focuses on the production and supply of lithium-iron-phosphate (LFP) battery cells specifically designed for Hyundai’s EVs in the Indian market.
Hyundai Motor India Limited (HMIL) has signed a binding term sheet with Exide Industries' subsidiary Exide Energy Solutions for the production and supply of battery cells for HMIL’s electric vehicles dedicated to the Indian market.
HMIL is now set to become the first Indian automaker to use locally manufactured battery cells for its electric vehicles.
The collaboration focuses on the production and supply of lithium-iron-phosphate (LFP) battery cells specifically designed for Hyundai’s EVs in the Indian market. This move is aimed at reducing costs and strengthening local supply chains besides meeting green energy targets.
“Our partnership with Exide Energy Solutions Ltd. ensures a competitive edge by equipping future Hyundai and Kia EVs in India with locally manufactured batteries,” said Heui Won Yang, head of Hyundai and Kia’s R&D division.
The advanced LFP cells boast over 10,000 charging cycles, significantly exceeding the performance of conventional lithium-ion batteries.
Exide Industries is a leading Indian manufacturer of lead-acid batteries, catering to a wide range of applications including automotive, industrial and renewable energy sectors.
HMIL is a prominent player in the Indian automotive market and a subsidiary of the South Korean Hyundai Motor Company.
