Hyundai Motor and Kia on Monday signed a memorandum of understanding with India’s Exide Energy Solutions Ltd to supply batteries for their electric vehicles in a bid to boost competitiveness in the world’s No.3 auto market. The South Korean auto duo said in a statement that the partnership with Exide Energy, a unit of Exide Industries, aims to localise their EV battery production in India, specifically focusing on lithium-iron-phosphate (LFP) cells.
