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EXIDE INDUSTRIES LIMITED.
The company inks MOU with Hyundai and Kia motors...
South Korean auto majors Hyundai Motor Company (HMC) and Kia Corporation on April 8 announced a partnership with homegrown battery maker Exide Energy Solutions Ltd for electric vehicle battery localisation in India.
Exide Energy Solutions (EES) is a wholly-owned subsidiary of Kolkata-based Exide Industries Ltd, a leading lead-acid battery supplier in India with over 75 years of experience and market leadership in lead-acid batteries.
Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells in line with the expansion of their EV plans for the Indian market. Hyundai Motor Group said this strategic cooperation with Exide Energy is the beginning of HMC and Kia's efforts to expand their exclusive battery development, production, supply and partnerships in the Indian market.
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