Big news for electric vehicles (EVs) in India! Hyundai and Kia, two major carmakers, just joined forces with an Indian company called Exide Energy Solutions. This partnership paves the way for building batteries for electric Hyundais and Kias right there in India.
Exide Energy Solutions may be a new name, but they come from a company with a long history – their parent company, Exide Industries, has been making batteries for 75 years! Exide Energy Solutions is focusing on lithium-ion batteries, the kind used in electric cars, and they’ll be making them in various shapes and sizes to fit different needs.
Why is this such a big deal? Well, India is pushing hard to become more eco-friendly, and electric cars are a key part of the plan. The Indian government also wants to make sure these electric cars are affordable, and building batteries locally will help keep the costs down.
Here’s what Heui Won Yang, a bigwig at Hyundai and Kia’s research and development department, had to say about it: “India is a key market for vehicle electrification…which makes securing cost competitiveness through localized battery production crucial.” In other words, building batteries in India is good for the environment and good for keeping electric car prices reasonable.