Hyundai, Kia, LG Chem organize EV and battery tilt for startups

MANILA: Due to the increasing demand for electric vehicles (EVs), Kia Motors Corporation, Hyundai Motor Company, and LG Chem have collaborated to sponsoring the "EV and Battery Challenge" (EVBC) — a global competition that aims to determine up to 10 battery and EV startups for prospective partnership and investment.

The global startup support organization, New Energy Nexus, will handle and assist the competition.

The selected startups will have an opportunity to work closely with LG Chem, Kia, and Hyundai for the development of proof-of-concept projects in the process of utilizing the laboratories, resources, and technical skills of the sponsors.

The international competition also provides startups with the opportunity to demonstrate their distinct business strategies and innovative technologies. Through the EVBC, the three sponsors will help in determining and safeguarding core technology competencies, which will give their customers greater significance.

Startups that have building technologies and functional prototypes in EV fleet management and charging, manufacturing and recycling, materials, systems, battery management and customization services, and components and power electronics are highly urged to participate in the competition. Applications can be filed here from June 22 to August 28.

Applicants who have passed the first review on business practicality and technology need to undergo digital interviews in October. Then, the finalists are required to participate in a two-day workshop in November at the Hyundai CRADLE Silicon Valley office, the headquarters for the open advancement for Hyundai Motor Group in the US. In this area, Kia, Hyundai, and LG Chem will be validating the advanced technologies of the applicants.

With the enriched focus of the automobile sector on the enhancement of more eco-friendly vehicles, particularly EVs, the demand for high-efficiency and high-performance batteries has been greater than before.

Kia and Hyundai have earned recognition in the international market with an extensive range of EVs. Moreover, Hyundai Motor Group has plans of deploying 44 eco-friendly models by 2025, which also includes 23 EVs.

Prior to the partnership with Kia and Hyundai, LG Chem also conducted “The Battery Challenge” to explore advanced technologies in the battery business last year.

Photo from Hyundai and Kia

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