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Hyundai, Kia and LG Chem launch global competition to invest in EV and battery start-ups

With the automobile industry’s increased focus on the development of more eco-friendly vehicles, specifically EVs, the demand for high-performance, high-efficiency batteries is greater than ever before. Kia and Hyundai have gained prominence in the global market with a comprehensive portfolio of EVs. Hyundai Motor Group is planning to deploy 44 eco-friendly models by the year 2025, including 23 EVs.

Kia e-Niro
With a range that rivals more expensive models, the e-Niro is an attractive buy

The chosen start-ups will have the opportunity to work hand-in-hand with Kia, Hyundai, and LG Chem, to develop proof-of-concept projects while leveraging the sponsors’ technical expertise, resources and laboratories. The global competition offers start-ups the opportunity to showcase their respective innovative technologies and unique business models. Through the EVBC, the three sponsors aim to identify and secure core technology capabilities that will bring more value to their customers.

Start-ups that have working prototypes and are building technologies in EV charging and fleet management, power electronics and components, personalisation services and Battery management, systems, materials, recycling and manufacturing are strongly encouraged to participate. They can apply through www.evbatterychallenge.com from 22 June to 28 August.

Applicants that pass the first review on business feasibility and technology will go through virtual interviews in October. Then, the finalists will attend a two-day workshop in November at the Hyundai CRADLE Silicon Valley office, the hub for Hyundai Motor Group’s open innovation in the U.S. There, Kia, Hyundai, and LG Chem will be verifying the innovative technologies of the applicants.BatteryPack

Development of battery technology is the key to more efficient and longer range vehiclesMyung-Hwan Kim, Chief Production & Procurement Officer and Head of the Battery Research Center at LG Chem’s Energy Solution Company commented:

“LG Chem is continuously striving to lead in battery technology development based on an open innovation approach.  We will foster potential start-ups in partnership with Hyundai and Kia, and strengthen our capabilities in the EV sector.”

Last year, LG Chem hosted “The Battery Challenge” to discover innovative technologies in the battery business, and this year, it has partnered with Kia and Hyundai to create more synergy in the EV sector.

The post Hyundai, Kia and LG Chem launch global competition to invest in EV and battery start-ups appeared first on driveEV.



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Hyundai, Kia and LG Chem launch global competition to invest in EV and battery start-ups

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