Hyundai and Kia are all set to use domestically-made batteries in their EVs in India
Hyundai and Kia, owned by Hyundai Motor Group, have signed an MoU with Exide Energy Solutions Ltd for localised batteries
Hyundai and Kia will focus on lithium-iron-phosphate (LFP) cells
The MoU will allow for a strategic cooperation with Exide for exclusive battery development, production, supply and partnerships in India
Kia sells the EV6 in the Indian market at present. It is brought in via import route
Hyundai offers Kona and Ioniq 5 here
The Indian EV market is quite small at present but the potential for expansion is enormous
Mass-market electric cars that are 'affordable' are seen as crucial for defining success parameters for companies in India