New Delhi: As the electric vehicle (EV) market is gaining momentum in India, South Korean automakers Hyundai Motor Company and Kia Corporation have joined hands with Kolkata-based battery firm Exide Energy Solutions to localize EV battery manufacturing in India. This partnership is set to increase the presence of locally produced batteries in their upcoming EV models including Kona, Ioniq 5 and EV6.
Focus on LFP Cell Production
Hyundai and Kia are emphasizing on lithium-iron-phosphate (LFP) cell production as they enter the Indian EV market. The collaboration with Exide Energy Solutions marks a strategic step to establish leadership in India in integrating domestically manufactured batteries into their EV lineup.
About Exide Energy Solutions
Exide Industries, with over 75 years of market experience, is a renowned supplier of Lead-Acid Batteries in India. Its subsidiary, Exide Energy Solutions, established in 2022, specializes in the manufacturing of lithium-ion cells, modules and packs, offering a variety of chemistries and form factors.
Expanding Battery Development and Production
In a joint statement, Hyundai and Kia expressed their commitment to expand battery development, production, supply and partnership in India through this collaboration with Exide Energy Solutions. Recognizing India’s importance in the global automotive market, especially EV production and sales, the companies aim to strengthen their presence in the growing Indian EV segment.
Current and Future EV Offerings
Currently, Hyundai offers the Kona and Ioniq 5 electric cars in India, while Kia has introduced the popular EV6 model. Looking to the future, both the automakers are planning to introduce a variety of electric models to suit the Indian market, reflecting the increasing competition in the EV segment.
By localizing EV battery manufacturing with Exide Energy Solutions, Hyundai and Kia aim to leverage the growing demand for electric vehicles in India while contributing to the country’s efforts towards sustainable mobility.
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