Hyundai, Kia and LG Chem have launched competitions globally to select EV battery start-ups to invest in.
The ‘EV and Battery Challenge (EVBC)’ is a global-level competition held by Hyundai, Kia and LG Chem. These companies have joined hands to identify the top 10 Electric Vehicle (EV) and battery start-ups. These top start-ups may even receive investment from this trio of companies. Furthermore, these start-ups will also receive the chance to work alongside Hyundai, Kia and LG to develop core technologies in the EV space.
Start-ups that have been developing and contributing to areas including EV charging, fleet management, power electronics and components, personalization services, battery management systems, materials, recycling and manufacturing are eligible to take part in this competition. They will be graded for the innovation of their solution and its feasibility.
Commenting on this, Youngcho Chi, President and Chief Innovation Officer, Hyundai Motor Group, said, “We are widening our collaboration with start-ups that have promising and innovative ideas. We look forward to working with various start-ups that will lead the global EV market and next-generation battery innovation through a joint program with LG Chem, which has world-class battery technology.”
The selected start-ups will undergo virtual interviews in October and finalists will have to attend a two-day workshop in November at the Hyundai CRADLE (Center for Robotic-Augmented Design in Living Experiences) Silicon Valley office.
Story: Joshua Varghese
