- To jointly conduct “EV and Battery Challenge” (EVBC), a global competition
- Intends to identify up to 10 electric vehicle and battery start-ups for potential investment
With demand for EVs growing, Hyundai Motor Company, Kia Motors Corporation, and LG Chem are jointly sponsoring the “EV and Battery Challenge” (EVBC), a global competition to identify up to 10 EV and battery start-ups for potential investment and collaboration.
Start-ups that have working prototypes and are building technologies in EV charging and fleet management, power electronics and components, personalisation services and battery management systems, materials, recycling and manufacturing are strongly encouraged to participate. They can apply on the website www.evbatterychallenge.com between 22 June and 28 August 2020.
Applicants that pass the ‘business feasibility and technology’ round 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 in the US, post which, the three companies will verify the innovative technologies of the applicants.
The chosen start-ups will ultimately have the opportunity to work hand-in-hand with Hyundai, Kia, and LG Chem, to develop ‘proof-of-concept’ projects while leveraging the sponsors’ technical expertise, resources and laboratories.
With the automobile industry’s increased focus on development of more eco-friendly vehicles, specifically EVs, the demand for high-performance, high-efficiency batteries is at an all-time high. And as such, Hyundai Motor Group plans to deploy 44 eco-friendly models by the year 2025, including 23 EVs.
