Hyundai Motor India has entered into a partnership with Exide for local EV battery cells; this will save costs for both companies in India.
Hyundai has teamed up with Exide Energy Solutions Ltd., a subsidiary of Exide Industries Ltd. This agreement marks Colonial Motor Company Limited as the very first Indian motor manufacturer to source cell batteries from its own country. This partnership addresses the new saturation for lithium-ion phosphate (LFP) batteries dedicated solely to Hyundai electric vehicles (EVs) throughout the country.
Local Production
In particular, Hyundai’s collaboration with Exide allows it to procure batteries locally, skipping or lessening heavy importation costs from other countries. Local production allows Hyundai to save costs and contributes to making India carbon-neutral. According to Heui Won Yang, head of the R&D division at Hyundai and Kia, in-country manufacture is essential to lessening costs for Indian EVs and making them affordable.
Taking An Edge
According to Yang, “It would position us very well in the future with India by a competitive advantage with locally made batteries for Hyundai Motor and Kia’s future EV models in the Indian market through this global partnership with Exide Energy Solutions Ltd.” This alliance places Hyundai in a position to exploit the Indian market for EVs without compromising its strategy with Indian consumers.
Battery Performance
The availability of cells that last more than 10,000 charging cycles results from partnering with this company. It is certainly a far greater life than a standard lithium-ion battery, which has between 1,000 and 2,300 cycles. Hence, such vehicles will have a much lower lifetime ownership cost for the consumers because of their much better durability.
Investing in the Future
Hyundai has made its partnership with Exide part of this overall strategy to invest in India’s EV and local manufacturing infrastructure. The automaker plans on introducing a “high-volume EV model” by 2025, with this new battery technology, in the interim- with models like the IONIQ 5, and Kona currently available for sale by Hyundai, while Kia sources the EV6.
Experience of Exide
Exide Energy Solutions is a subsidiary of Exide Industries Ltd., having very extensive experience in batteries as the company has been in this industry for more than 75 years. Exide Energy was founded in 2022 and shall concentrate solely on advanced battery technologies for electric vehicles. This partnership actually marks the stepping stone for Exide to move into the automotive battery market.
Looking Towards the Future
More collaborations about sustainability and innovation in the Indian automotive industry are expected with the establishment of the partnership between Hyundai Motor India and Exide Energy Solutions. The partnerships are the strides that edge India closer to being a forerunner in the global marketplace for electric vehicles. Such collaboration would enable local partners to actualize long-term goals of electrifying vehicles and environmentally sustainable advances.
Thus, besides strengthening Hyundai in the thriving Indian EV market, in fact, this will also take India’s ambition of a carbon-neutral economy further ahead. So together, Hyundai and Exide are all set to have crucial roles in forging the future ahead of electric mobility.
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