Hyundai has announced that it has established a strategic partnership with Exide Energy to produce batteries for the South Korean brand’s electric models destined for the Indian market.
With this new partnership, Hyundai achieves the goal of producing its batteries locally, focusing specifically on lithium iron phosphate cells.
This important strategic step will position the brand as a pioneer in the application of locally produced batteries in its future electric models in the Indian market.
“India is a key market for vehicle electrification due, in part, to the government’s carbon neutrality goals, making it crucial to ensure cost competitiveness through local battery production”, said Heui Won Yang, President and Head of Hyundai’s R&D division.
It is worth noting that India is globally recognized as a highly promising automotive market and the country is rapidly emerging as a key player in the production and sale of electric vehicles.
