Hyundai·Kia Motors-LG Chem discovers global promising startups in the field of electric vehicles

Hyundai·Kia Motors-LG Chem discovers global promising startups


- Hosted the 'Electric Vehicle & Battery Challenge', seeking opportunities for collaboration with the global startup ecosystem
- Applicants can apply through the dedicated application website (link here) until August 28 at domestic and overseas startups
-Hyundai and Kia Motors-LG Chem, promote selected technology and technology verification Strategic Investment Review

Hyundai and Kia Motors and LG Chem will jointly launch a promising start-up program for electric vehicles and batteries. This is to seek strategic collaboration opportunities by expanding exchanges with the global startup ecosystem, and to secure future core technological capabilities to innovate customer values.

Named'EV & Battery Challenge', this startup competition program is aimed at startups at home and abroad who have differentiated innovative technologies and business models in the field of electric vehicles and batteries.

Startups who wish to participate can apply through the dedicated application website from 22nd to 28th of this month .

Applications include ▲EV next-generation battery materials to increase mileage and safety ▲Control and maintenance to increase battery efficiency and ease of use ▲Reuse and recycle technologies such as used batteries to reduce battery costs ▲Battery productivity improvement and quality control The process technology is divided into seven areas: ▲Electric vehicle driving parts ▲Electric vehicle charging and energy management ▲Electric vehicle personalization service.

In the first written review, startups that have passed the evaluation of business feasibility, technology, etc. will conduct face-to-face screening using video conferencing in October.

The final start-up will attend a workshop held at the Silicon Valley office in Hyundai Cradle, an open innovation base for the Hyundai Motor Group in November, and will continue the discussion to shape mutual collaboration.

Hyundai·Kia Motors and LG Chem will promote technology verification with related companies in the final selection of startups and review strategic investments in connection with them.

Through this, we expect to discover next-generation battery technologies that will lead to future innovation, and further strengthen our electric vehicle system and service development capabilities.

Startups also have the opportunity to collaborate with Hyundai, Kia Motors and LG Chem, which are global leaders in the field of electric vehicles and batteries, providing a stepping stone to become a key player in this field.

Hyundai Motor Group President Young-Jo Ji said, “Hyundai and Kia Motors are expanding collaboration with startups with high potential for future growth with innovative ideas.” We look forward to a partnership with a variety of startups that will lead to battery innovation.”

“LG Chem is continuously striving to secure leadership in new technologies in the battery field through active open innovation activities,” said Myeong-Hwan Kim, CPO and head of the battery research division at LG Chem's Battery Business Division. "We will actively foster potential startups with Kia Motors to strengthen our competitiveness in the electric vehicle sector."
*CPO: Abbreviation for Chief Production & Procurement Officer, which means chief production and purchasing manager.

In recent years, the paradigm has been reorganized in the automobile industry centering on eco-friendly vehicles based on electrification. In particular, competition for developing high-performance and high-efficiency electric vehicle batteries has become fierce.

Hyundai and Kia Motors are prominent in the global market with electric vehicle models with world-class competitiveness. According to EV Sales, a global electric vehicle media, Hyundai and Kia Motors sold a total of 24,116 pure electric vehicles in the first quarter of this year. 3rd,846th) followed by fourth place.

Hyundai and Kia Motors are planning to show a total of 44 eco-friendly vehicles by 2025, and more than half of them are planning to launch 23 of them as pure electric vehicles. LG Chem is also strengthening its position as a global electric car battery market leader.

According to SNE Research, a specialized market research institute for electric vehicles and batteries, LG Chem ranked first in the global market with 27.1% of global electric vehicle battery usage in the first quarter.

LG Chem conducted'The Battery Challenge' last year to proactively secure innovative technologies in the battery business.

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