Hyundai and Kia have been focusing on the premium end of EVs for quite a while, with both its flagship electric vehicles, the Ioniq 5 and the EV6 using third-party NMC batteries. Both the companies have now teamed up with Exide Energy for the localization of electric vehicle batteries, marking the beginning of Hyundai and Kia’s electric vehicle expansion plans.
With the expansion of their EV plans for the Indian market, Hyundai and Kia aim to localize their EV battery production, with a focus on lithium-iron-phosphate (LFP) cells rather than NMC. Through this partnership with Exide, Hyundai and Kia aim to equip future electric vehicles with locally-produced LFP battery packs.
Heui Won Yang, President and Head, Hyundai Motor and Kia’s R&D Division, expressed how crucial cost-competitiveness becomes through local battery production. He also mentioned the importance of the Indian market due to the government’s carbon-neutrality goals.
This partnership could mean future EVs, such as the electric Creta, the Carens-based EV, and the Kia compact EV could well be equipped with these battery packs. These cars are expected to hit the market later in 2025.
