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Hyundai, Kia, LG Chem to invest in EV tech start-ups

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  • Companies to analyse enterprise feasibility, applied sciences and conduct interviews to shortlist start-ups
  • Applications to enter competitors are open from June 22 to August 28 on www.evbatterychallenge.com
  • Finalists to attend two-day workshop on the Hyundai CRADLE Silicon Valley workplace in November

With demand for EVs rising, Hyundai Motor Company, Kia Motors and LG Chem are collectively sponsoring the ‘EV and Battery Challenge’ (EVBC) international competitors to establish up to 10 EV and battery start-ups for potential funding and collaboration. New Energy Nexus, the worldwide start-up help organisation, will handle and facilitate the competitors.

With the car business’s elevated concentrate on improvement of extra eco-friendly autos, particularly EVs, the demand for high-performance, high-efficiency batteries is bigger than ever earlier than. Hyundai and Kia have gained prominence in the worldwide market with a complete portfolio of EVs, and the Hyundai Motor Group is additional planning to deploy 44 eco-friendly fashions, together with 23 EVs, by 2025.

Opportunity to develop proof-of-concept tasks

The chosen start-ups may have the chance to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop proof-of-concept tasks whereas leveraging the sponsors’ technical experience, sources and laboratories.

The international competitors presents start-ups the chance to showcase their respective modern applied sciences and distinctive enterprise fashions. Through the EVBC, the three sponsors intention to establish and safe core know-how capabilities that can carry extra worth to their prospects.

Start-ups which have working prototypes and are constructing applied sciences in EV charging and fleet administration, energy electronics and parts, personalisation providers and battery administration, techniques, supplies, recycling and manufacturing are strongly inspired to take part. They can apply by way of www.evbatterychallenge.com from June 22 to August 28.

Applicants that cross the primary evaluation on enterprise feasibility and know-how will undergo digital interviews in October. The finalists will attend a two-day workshop in November on the Hyundai CRADLE Silicon Valley workplace, the hub for Hyundai Motor Group’s open innovation in the US. There, Hyundai, Kia, and LG Chem will likely be verifying the modern applied sciences of the candidates.

“We are widening our collaboration with start-ups that have promising and innovative ideas. We look forward to working with various start-ups that will lead the global EV market and next-generation battery innovation through a joint programme with LG Chem, which has world-class battery technology,” mentioned Youngcho Chi, president and chief innovation officer of Hyundai Motor Group.

“LG Chem is continuously striving to lead in battery technology development based on an open innovation approach,” mentioned Myung-Hwan Kim, chief manufacturing and procurement officer and head of the battery analysis centre at LG Chem’s Energy Solution Company. “We will foster potential start-ups in partnership with Hyundai and Kia, and strengthen our capabilities in the EV sector.”

“LG Chem, Hyundai Motor and Kia are leading the charge for better batteries and better mobility systems. Their joint effort to accelerate start-ups through the EV and Battery Challenge shows they are in it for the long game. We are proud to be working with such forward-thinking companies that are enabling a faster and cleaner energy transition,” says Danny Kennedy, chief power officer of New Energy Nexus.

Last 12 months, LG Chem hosted ‘The Battery Challenge’ to uncover modern applied sciences in the battery enterprise, and this 12 months, it has partnered with Hyundai and Kia to create extra synergy in the EV sector.

Also see:

Next-gen Kia Carnival teased forward of world premiere

Kia introduces new Owner’s Manual cell app

55 p.c of Hyundai Creta bookings are for diesel variations

Three distinctive Hyundai EVs below improvement



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