Hyundai and Kia have signed an agreement with Indian lithium-iron-phosphate (LFP) battery manufacturer Exide Energy Solutions to equip the two companies’ upcoming EV models in the Indian market with locally produced batteries.

Established in 2022, Exide Energy Solutions is a wholly owned subsidiary of Exide Industries, which has 75 years of experience in the production of lead-acid batteries. The new company was formed to manufacture lithium-ion cells, modules and packs that incorporate multiple chemistries and form factors.

“India is a key market for vehicle electrification, due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localized battery production crucial,” said Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division.

Source: Kia