Hyundai Motor Company and the Kia Corporation plan to produce electric vehicle (EV) batteries in India. The South Korean automakers recently signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd. to collaborate strategically in India’s EV market.
Hyundai Motor is Kia’s parent company. The company has EV expansion plans for India, starting with the leading Indian battery company, Exide Energy. Through their partnership, Hyundai and Kia plan to localize LFP (lithium-iron-phosphate) cell production for electric vehicles. The companies will use the LFP batteries in their upcoming EV models launching in the Indian car market.
Exide Industries has 75 years of experience as a market leader in lead-acid batteries. In 2022, the company established its wholly-owned subsidiary, Exide…
Read the full article originally published at www.teslarati.com.