Try GOLD - Free
HYUNDAI MOTOR & KIA FORGE STRATEGIC P'SHIP WITH EXIDE ENERGY FOR EV BATTERY PRODUCTION IN INDIA
The Business Guardian
|April 09, 2024
Exide Industries surged 13% to hit a record high of INR 363.35 after South Korean auto giants Hyundai Motor Company and Kia Corporation announced a partnership with Exide Energy Solutions Ltd, a subsidiary of Exide Industries for electric vehicle battery localisation in India.
-
"Hyundai Motor Company (Hyundai Motor) and Kia Corporation (Kia) have inked a Memorandum of Understanding (MoU) with Exide Energy Solutions Ltd (Exide Energy), a prominent Indian battery firm, as a strategic collaboration in line with their electric vehicle (EV) expansion strategies. The signing event occurred at Hyundai Motor Group's Namyang Research and Development Center in South Korea.
With the expansion of their EV plans for the Indian market, Hyundai Motor and Kia aim to localize their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells.
As per a release, this strategic move will position them as the pioneers in applying domestically produced batteries in their upcoming EV models in the Indian market.
This story is from the April 09, 2024 edition of The Business Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Business Guardian
The Business Guardian
ELIMINATING DUST IN CAPITAL IS OUR GOVT'S PRIORITY: CM GUPTA
Delhi Chief Minister Rekha Gupta said on Friday that her government is working on multiple fronts to effectively and sustainably control pollution in the capital.
2 mins
December 13, 2025
The Business Guardian
FED RATE CUT EASES PRESSURE ON RUPEE; INDIA SEEN STABLE ON FX, BONDS: REPORT
The report notes that the Fed’s December policy vote was deeply divided
2 mins
December 13, 2025
The Business Guardian
Shilpkari of Rajasthan: The Art of Traditional Craftsmanship
Shilpkari, or traditional Rajasthani craftsmanship, is a significant part of Rajasthan's rich cultural heritage.
1 mins
December 13, 2025
The Business Guardian
Lok Adalat Awards: Final Means Final, SC Holds
Final, SC Holds
2 mins
December 13, 2025
The Business Guardian
LG Saxena gives nod for one-rank-higher honorary titles for retiring Delhi Police personnel
Delhi Lieutenant Governor VK Saxena on Friday approved the grant of Honorary Ranks, one level above their existing posts, to Delhi Police personnel from Constable to Sub-Inspector ranks on the day of their superannuation.
1 min
December 13, 2025
The Business Guardian
GEMS OF RAJASTHAN: CRAFTING LEGACY AND LUXURY
Rajasthan is famous for its beautiful gemstones, known for their high quality, vibrant colors, and unique beauty.
2 mins
December 13, 2025
The Business Guardian
HC directs intermediaries to act on Gavaskar's complaint
The Delhi High Court on Friday issued directions to intermediaries to treat Sunil Gavaskar’s lawsuit as a formal complaint and begin the take-down process for allegedly infringing content.
1 min
December 13, 2025
The Business Guardian
South Korean Intellectual Property Office upgraded to Ministry
Do India need to closely monitor this strategic reorganization move by the government!
3 mins
December 13, 2025
The Business Guardian
India bets on generative AI to reshape drug discovery, says Union Minister
India will rely on generative AI to accelerate drug discovery and bolster clinical research, Minister of State for Science and Technology Jitendra Singh said on Friday, adding that fears that the technology will replace scientists are unfounded and that AI will only enhance decision-making, not replace experts.
1 min
December 13, 2025
The Business Guardian
India Notifies DPDP Rules 2025
India’s data-protection framework took a major step in November when the Digital Personal Data Protection (DPDP) Rules, 2025 were notified.
1 mins
December 13, 2025
Listen
Translate
Change font size