Hyundai Motor, Kia to partner with India's Exide Energy on EV batteries

Exide Industries

08/04/2024 06:00

SEOUL, April 8 (Reuters) - Hyundai Motor Co  005380.KS 
and Kia Corp  000270.KS  on Monday signed a memorandum of
understanding with India's Exide Energy Solutions Ltd on battery
production for their electric vehicles (EVs) in India. 
    The South Korean auto duo said in a statement that their
partnership with Exide Energy aims to localise their EV battery
production in India, specifically focusing on
lithium-iron-phosphate (LFP) cells.
    


 (Reporting by Heekyong Yang and Joyce Lee
Editing by Ed Davies)
 ((Heekyong.Yang@thomsonreuters.com;))