“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. “Through this global partnership with Exide Energy Solutions Ltd., we will gain a competitive advantage by equipping Hyundai Motor and Kia’s future EV models in the Indian market with locally produced batteries.”
Kolkata-based Exide Industries Ltd., a leading lead-acid battery supplier in India has over 75 years of experience and market leadership in lead-acid batteries. Exide Energy Solutions Ltd. is a wholly owned subsidiary company of Exide Industries Ltd., which was established in 2022 to foray into the business of manufacturing of Lithium-Ion cells, modules and packs incorporating a portfolio of multiple chemistries and form factors.
