April 8, 2024
admin
(20 second reading) Exide Industries announced that Hyundai and Kia were partnering with a subsidiary to localize EV battery production in India.
As part of their EV expansion strategy, Hyundai and Kia signed a MOU with Exide Energy Solutions, aiming to produce lithium-iron-phosphate (LFP) cells locally for the Indian market.
Hyundai plans to introduce a high-volume EV model in 2025, currently offering the IONIQ5 and Kona, while Kia sells the EV6 model in India.
Exide Energy Solutions was established in 2022 to venture into lithium-ion cell, module, and pack manufacturing.
