Hyundai purchases LFP cells from Exide in India

Hyundai and Kia want to equip their electric cars in India with LFP batteries from the local manufacturer Exide. The companies have signed a strategic partnership. It is still unclear which models these batteries will be used in.

Hyundai Motor Group’s two Korean brands want to expand their electric vehicle plans for the Indian market and localise battery production. Although the Koreans are not commenting on the plans in detail, it is clear where the locally produced batteries will be sourced from: The Hyundai Motor Group has now signed a deal with battery manufacturer Exide.

Indian company Exide Industries, based in Kolkata, is a leading supplier of lead-acid batteries in India. However, Exide will produce lithium iron phosphate (LFP) cells for Hyundai and Kia’s EVs. The partners want to position themselves as “pioneers in applying domestically produced batteries in their upcoming EV models in the Indian market.”

Exide founded its subsidiary Exide Energy Solutions in 2022 to manufacture and assemble LFP batteries. From the outset, the Indians focused on various Li-ion chemistries and form factors – and secured a licence from Chinese manufacturer SVOLT. However, the Hyundai partnership only specifies LFP cells, with no further details on the cells’ form factor or energy density. The extent of the supply deal has also not been revealed.

“India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localised battery production crucial,” says 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.”

Hyundai already offers the Kona Electric in India, which is also assembled there. However, this is still the first generation, which is only available with the 39.2 kWh battery. The larger 800-volt Ioniq 5 is also in Hyundai’s Indian portfolio. Kia sells its first EV6 GMP model in India, and an electric version of the already available Kia Carens EV is also planned.

hyundai.com (announcement), hyundai.com (Indian models), kia.com (Indian models)