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Kia Motors Corpn, Hyundai Motor Corpn, LG Chem join hands for EVs

Wednesday, 24 Jun 2020
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South Korean automakers Hyundai Motor Company and Kia Motors Corporation, along with LG Chem, have identified up to 10 electric vehicle (EV) and battery start-ups for potential investment and collaboration.

New Energy Nexus, the international start-up support organisation, will manage and facilitate the competition -- EV & Battery Challenge (EVBC).

The chosen start-ups will have the opportunity to work hand-in-hand with Hyundai Motor Company, Kia Motors Corporation, 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  EVBC, the three sponsors aim to identify and secure core technology capabilities that will bring more value to their customers.

Applicants that pass the first review on business feasibility and technology will go through virtual interviews in October 2020.

Then the finalists will attend a two-day workshop in November 2020 at the Hyundai CRADLE Silicon Valley office, the hub for Hyundai Motor Group's open innovation in the US. The three companies will be verifying  innovative technologies of the applicants.

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